News Releases
Capella Announces Interim University Leadership Team
Capella's current university president becomes vice chairman; interim Office of the University President team will lead university during ongoing search for new president
MINNEAPOLIS, October 17, 2007 – Capella University (www.capella.edu), an accredited*, fully online university and wholly owned subsidiary of Capella Education Company (NASDAQ: CPLA), both based in Minneapolis, today announced the elevation of Michael Offerman, EdD, president of Capella University, to the new role of vice chairman-external university initiatives, to allow him to continue and expand upon his national work on such issues as accountability and learning outcomes transparency. The university also announced the creation of an interim Office of the University President leadership team that will oversee the day-to-day operations of the university during its continuing search for a new president. This new leadership structure will be effective Oct. 29, 2007.
Dr. Offerman will be part of the four-person interim Office of the University President, which also includes Valerie Perkins, EdD, current dean of Capella University’s School of Undergraduate Studies, who has been named interim university president. The other members of the Office of the President include Karen Viechnicki, PhD, as vice president of academic quality, and Linda Muehlbauer, MBA, as vice president of academic operations. Replacing Perkins as dean of the School of Undergraduate Studies will be Feranda Williamson, EdD, who currently serves as the school's associate dean.
"Our goal is to maintain strong university leadership and continue our momentum on key university initiatives during our search for a new president," said Stephen Shank, chairman and CEO of Capella Education Company. "As the leader of the Transparency by Design educational accountability initiative, Dr. Offerman's national role has been expanding. By creating an interim university leadership team, we will be able to continue to leverage Dr. Offerman's leadership, while allowing him more time to focus on his new role. This is an excellent team that I’m confident will keep us moving forward."
Forward-Looking Statements
Certain information in this news release may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company cautions investors not to place undue reliance on any such forward-looking statements, which are based on information available at the time those statements are made or management’s good faith belief as of that time with regard to future events, and should not be read as a guarantee of future performance or results. Such statements are subject to certain risks and uncertainties that could cause the company's actual results in the future to differ materially from its historical results and those presently anticipated or projected. The company undertakes no obligation to update its forward-looking statements to reflect events or circumstances arising after such date.
Among these risks and uncertainties are the timing of hiring a new university president, successful implementation of our leadership succession plan, and our ability to manage our growth and execute on our operational and strategic goals of providing exceptional learning outcomes and learner experience.
Other factors that could cause the company's results to differ materially from those contained in its forward-looking statements are included under, among others, the heading "Risk Factors" in our 10–K and subsequent Form 10-Qs on file with the Securities and Exchange Commission and other documents filed by the company with the Securities and Exchange Commission.
About Capella University
Founded in 1993, Capella University is an accredited*, fully online university that offers graduate degree programs in business, information technology, education, public health, human services, public safety, and psychology, and bachelor's degree programs in business, information technology, health, and public safety. Within those areas, Capella currently offers 101 graduate and undergraduate specializations and 15 certificate programs. The online university currently serves more than 19,900 students from all 50 states and 56 countries. It is committed to providing high-caliber academic excellence and pursuing balanced business growth. Capella University is a wholly-owned subsidiary of Capella Education Company (NASDAQ: CPLA), headquartered in Minneapolis. For more information, please visit http://www.capella.edu or call 1-888-CAPELLA (227-3552).
*Capella University is accredited by The Higher Learning Commission and is a member of the North Central Association of Colleges and Schools (NCA), http://www.ncahlc.org.
Capella University, 225 South Sixth Street, Ninth Floor, Minneapolis, MN 55402, 1-888-CAPELLA (227-3552).
