|[December 13, 2012]
Apollo Group Appoints John Sperling Chairman Emeritus
PHOENIX --(Business Wire)--
Apollo Group, Inc. (NASDAQ: APOL) today announced that Dr. John G.
Sperling will retire as executive chairman of the company's board of
directors, effective December 31, 2012. Dr. Sperling, who founded Apollo
Group in 1972, was named chairman emeritus by the board, in recognition
of his tireless service and countless contributions to the company.
Additionally, the company announced that Peter V. Sperling has been
elected chairman of the board of directors. Mr. Sperling, who is the son
of Dr. Sperling, most recently served as vice chairman of the board, and
has held numerous management roles with Apollo Group since he joined the
company in 1983. Terri Bishop, executive vice president and senior
advisor to the CEO of Apollo Group, was elected vice chair of the board.
Both Mr. Sperling and Ms. Bishop will assume their new roles effective
December 31, 2012.
"It's nearly impossible to overstate how fully my father has devoted
himself to Apollo Group and its mission since he created Apollo Group
four decades ago," said Peter Sperling.
"On behalf of every employee of Apollo Grou, I express my most profound
gratitude to John Sperling, for his immeasurable contributions to the
betterment of society through access to high quality educational
programs," added Apollo Group CEO Greg Cappelli.
Separately, the company announced today that Matthew Carter, Jr. has
been appointed to the company's board of directors, filling an existing
vacancy. Mr. Carter will serve as an independent director of the
company, and will sit on the audit and finance committees of the board
Mr. Carter currently serves as president of Sprint (News - Alert) Nextel Corporation's
Global Wholesale & Emerging Solutions business unit. Mr. Carter
previously served as president of Sprint's Boost Mobile prepaid group.
Before joining Sprint, Mr. Carter held leadership and management roles
with Coca-Cola, PNC Financial Services Group, Leap Wireless (News - Alert), Royal Bank
of Canada and BellSouth Corporation.
"We are very fortunate to have Matt Carter join the Apollo board," added
Peter Sperling. "Matt brings deep management, operations, marketing and
international business expertise to the company, along with a track
record of growing and strengthening well-known consumer brands."
Widely recognized as a transformative business leader, Mr. Carter was
named to Black Enterprise magazine's 100 Most Powerful Executives
in Corporate America list in 2011 and in 2012. Mr. Carter holds a
bachelor's degree from Northwestern University, and an MBA degree from
Harvard Business School.
About Apollo Group
Apollo Group, Inc. is one of the world's largest private education
providers and has been in the education business for approximately 40
years. The Company offers innovative and distinctive educational
programs and services both online and on-campus at the undergraduate,
master's and doctoral levels through its subsidiaries: University of
Phoenix, Apollo Global, Institute for Professional Development and
College for Financial Planning. The Company offers programs and services
throughout the United States and in Latin America and Europe, as well as
online throughout the world.
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