Laureate: Doug Becker (CEO)
|Why this is a big quit:
Laureate Education has one more alumnus to add to its list. Doug Becker is taking his cap and gown and stepping down from his role as President and CEO of the Baltimore for-profit university system. In 1991 Becker acquired, Sylvan Learning Systems, a tutoring company at the time, and developed it to include additional educational services (test preparation, and a network of international universities). In 2004 Sylvan became Laureate Education, shifting its focus to higher education. With Becker at the front of class, Laureate attracted a tremendous attendance of 1 million students in over 200 programs. While it is unclear what Becker’s next move is, he did indicate he plans to explore entrepreneurial opportunities.
Why this is not as big as the top 10:
Despite its pioneer status, on its first day in the stock market Laureate missed its projected IPO by 15% and continued to move to the back of the class even in the strong IPO market under Trump. While Laureate’s revenue has increased by more than 24% since 2012, the company has also accrued a pile of debt, totaling $4.2 billion before the IPO. Laureate is also facing a lot of questions from the right regarding its ties with the Clinton Foundation. With a leadership transition in the works for several years now in addition to the aforementioned issues, Becker didn’t quite have the grades crack the top 10.