Universal Technical Institute, Inc. Announces CFO Transition
Universal Technical Institute, Inc. (UTI) announced a CFO transition as Troy Anderson resigns effective October 11, 2024. Christine Kline, Chief Accounting Officer, will serve as interim CFO during the search for a permanent replacement. CEO Jerome Grant praised Anderson's contributions to the company's North Star Strategy, including acquisitions, campus expansions, and program launches. UTI recently announced the second phase of this strategy, focusing on growth, diversification, and optimization across its two divisions: Universal Technical Institute and Concorde Career Colleges. The company aims for 10% revenue growth and an expanded Adjusted EBITDA margin of nearly 20% through fiscal 2029 while maintaining strong student and employer outcomes.
Universal Technical Institute, Inc. (UTI) ha annunciato una transizione del CFO con le dimissioni di Troy Anderson, che saranno effettive dall'11 ottobre 2024. Christine Kline, Chief Accounting Officer, ricoprirà il ruolo di CFO ad interim durante la ricerca di un sostituto permanente. Il CEO Jerome Grant ha lodato i contributi di Anderson alla North Star Strategy dell'azienda, inclusi acquisizioni, espansioni dei campus e lanci di programmi. UTI ha recentemente annunciato la seconda fase di questa strategia, focalizzandosi su crescita, diversificazione e ottimizzazione attraverso le sue due divisioni: Universal Technical Institute e Concorde Career Colleges. L'azienda punta a un crescita del 10% dei ricavi e a un margine di EBITDA rettificato espanso di quasi il 20% fino all'anno fiscale 2029, mantenendo al contempo risultati solidi per studenti e datori di lavoro.
Universal Technical Institute, Inc. (UTI) anunció una transición de CFO ya que Troy Anderson renuncia a partir del 11 de octubre de 2024. Christine Kline, Directora de Contabilidad, actuará como CFO interino durante la búsqueda de un reemplazo permanente. El CEO Jerome Grant elogió las contribuciones de Anderson a la Estrategia North Star de la compañía, que incluyen adquisiciones, expansiones de campus y lanzamientos de programas. UTI anunció recientemente la segunda fase de esta estrategia, centrada en el crecimiento, la diversificación y la optimización a través de sus dos divisiones: Universal Technical Institute y Concorde Career Colleges. La empresa aspira a un crecimiento del 10% en los ingresos y un margen de EBITDA ajustado expandido de casi el 20% hasta el año fiscal 2029, manteniendo al mismo tiempo resultados fuertes para estudiantes y empleadores.
유니버설 기술 연구소(UTI)는 트로이 앤더슨이 2024년 10월 11일자로 사임함에 따라 CFO 전환을 발표했습니다. 크리스틴 클라인, 수석 회계 담당자는 영구 대체자를 찾는 동안 임시 CFO 역할을 수행할 것입니다. CEO 제롬 그랜트는 앤더슨이 인수, 캠퍼스 확장 및 프로그램 출시 등을 포함한 회사의 노스 스타 전략에 기여한 점을 높이 평가했습니다. UTI는 최근 이 전략의 두 번째 단계를 발표했으며, 두 개의 부문인 유니버설 기술 연구소와 Concorde 경력 대학에서 성장, 다양화 및 최적화에 중점을 두고 있습니다. 회사는 수익 10% 성장과 거의 20%에 달하는 확장된 조정 EBITDA 마진을 2029 회계연도까지 달성하는 것을 목표로 하며, 학생과 고용주 모두에게 강력한 성과를 유지하고자 합니다.
Universal Technical Institute, Inc. (UTI) a annoncé une transition au poste de CFO avec la démission de Troy Anderson à compter du 11 octobre 2024. Christine Kline, Directrice Comptable, assurera le rôle de CFO intérimaire pendant la recherche d'un remplaçant permanent. Le PDG Jerome Grant a salué les contributions d'Anderson à la North Star Strategy de l'entreprise, y compris les acquisitions, les expansions de campus et les lancements de programmes. UTI a récemment annoncé la deuxième phase de cette stratégie, axée sur la croissance, la diversification et l'optimisation à travers ses deux divisions : l'Institut Technique Universel et les Concorde Career Colleges. L'entreprise vise une croissance des revenus de 10% et une marge EBITDA ajustée élargie de près de 20% d'ici l'exercice 2029, tout en maintenant de bons résultats pour les étudiants et les employeurs.
Die Universal Technical Institute, Inc. (UTI) hat einen CFO-Wechsel angekündigt, da Troy Anderson zum 11. Oktober 2024 zurücktritt. Christine Kline, Chief Accounting Officer, wird während der Suche nach einem dauerhaften Nachfolger als interim CFO fungieren. CEO Jerome Grant lobte Andersons Beiträge zur North Star Strategy des Unternehmens, einschließlich Akquisitionen, Campus-Erweiterungen und Programmstarts. UTI hat kürzlich die zweite Phase dieser Strategie angekündigt, die sich auf Wachstum, Diversifizierung und Optimierung in seinen beiden Bereichen, dem Universal Technical Institute und den Concorde Career Colleges, konzentriert. Das Unternehmen strebt ein Umsatzwachstum von 10% und eine erweiterte Adjusted EBITDA-Marge von nahezu 20% bis zum Geschäftsjahr 2029 an, während es gleichzeitig starke Ergebnisse für Studierende und Arbeitgeber aufrechterhält.
- Implementation of North Star Strategy aimed at significant company value increase
- Projected 10% revenue growth through fiscal 2029
- Targeted Adjusted EBITDA margin expansion to nearly 20% through fiscal 2029
- Successful execution of acquisitions, new campus builds, and program launches
- Departure of CFO Troy Anderson, potentially disrupting financial leadership continuity
Troy Anderson to Depart from the Company; Christine Kline Appointed Interim CFO
"Troy has been a key player in the first stage of our company's transformative North Star Strategy, which included two acquisitions, building two new campuses, and multiple program launches. In addition, he led the reorganization of our Finance function and successfully executed many financial transactions that have built value for our shareholders," said Jerome Grant, Chief Executive Officer, Universal Technical Institute, Inc. "We are grateful for Troy's outstanding contributions which have helped make the company larger, stronger, and healthier."
Mr. Grant continued, "Until a new CFO is hired, I'm pleased to share that Christine Kline will become interim CFO and report to me. Since joining the company over four years ago, Christine has distinguished herself as an innovative and talented senior leader who has supported the development of the company's multi-divisional financial function."
Recently, Universal Technical Institute, Inc. announced the second phase of its North Star Strategy to accelerate the company's mission to close the skilled workforce gap in America. The core tenets of the strategy—growth, diversification and optimization—are the foundation for initiatives across the company's two divisions of Universal Technical Institute (UTI), which offers transportation, skilled trades, and energy education programs; and Concorde Career Colleges, which specializes in the dental, nursing, and allied health professions.
"As we move toward the end of our fiscal year and beyond, we are keenly focused on implementing our North Star Strategy, which we expect to significantly increase our company's value through revenue growth of 10 percent and expanded Adjusted EBITDA margin of nearly 20 percent through fiscal 2029—all while continuing to maintain extraordinary student and employer outcomes," said Mr. Grant.
For more information about Universal Technical Institute, Inc., visit investor.uti.edu.
About Universal Technical Institute, Inc.
Universal Technical Institute, Inc. (NYSE: UTI) provides students with the practical skills and knowledge required by employers. Founded in 1965, the company has grown into a national network of campuses offering programs through its two divisions of UTI and Concorde Career Colleges. The UTI division focuses on transportation, skilled trades and energy education programs. The Concorde division specializes in nursing, dental and allied health professions. Under the leadership of CEO Jerome Grant, UTI is recognized for its excellence in career education and its impact on workforce development. For more information, visit www.uti.edu or www.concorde.edu, visit us on LinkedIn at @UniversalTechnicalInstitute and @Concorde Career Colleges, or on X (formerly Twitter) @news_UTI or @ConcordeCareer.
Media Contact:
Susan Aspey
saspey@uti.edu
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SOURCE Universal Technical Institute, Inc.
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