Universal Technical Institute, Inc. has announced the departure of Troy Anderson, the Executive Vice President and Chief Financial Officer, effective October 11, 2024. Christine Kline, the Chief Accounting Officer, has been appointed as the interim CFO while the company conducts a national search for a replacement.
Under Anderson's leadership, the company undertook significant strategic initiatives including two acquisitions, the establishment of two new campuses, and the launch of multiple programs. Moreover, the reorganization of the finance function and successful execution of financial transactions have contributed to building value for shareholders.
Christine Kline, who has been with the company for over four years, is now set to lead as the interim CFO. She has been recognized for her innovative and talented leadership in supporting the development of the company's multi-divisional financial function.
The company recently unveiled the second phase of its "North Star" strategy, with a focus on growth, diversification, and optimization across its two divisions: Universal Technical Institute (UTI) and Concorde Career Colleges. The strategy aims to increase the company's value through revenue growth of 10 percent and expanded adjusted EBITDA margin of nearly 20 percent by fiscal 2029.
The company is dedicated to implementing its North Star strategy, with a continued emphasis on maintaining exceptional student and employer outcomes as it moves towards the end of its fiscal year and beyond. Today the company's shares have moved -2.0% to a price of $16.08. If you want to know more, read the company's complete 8-K report here.
