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DeVry Board Member Resigns

Zacks Equity Research

DeVry Education Group Inc. (DV) — a global provider of educational services — recently announced that Mr. Darren Huston, a member of its board of directors, a director of DeVry Group, as well as a member of the Audit and Finance Committee of the Board and the Academic Committee of the Board has stepped down.

However, there will be no recruitment for the position as the board will be reduced from 10 to 9 members, under the provisions of the Amended and Restated By-Laws of DeVry Group.

DeVry stated that Huston resigned from the board because of his commitments to The Priceline Group Inc. (PCLN), a Connecticut-based online travel company. The Priceline Group provides online hotel reservation services as well as airline tickets, rental cars, vacation packages and cruise trips on a global platform.

In Sep 2011, Huston joined The Priceline Group as the Chief Executive Officer (CEO) of Booking.com B.V. (Netherlands), a wholly owned subsidiary of The Priceline Group and has been a board member since then. He retained the post at Booking.com even after his promotion as the president and CEO of The Priceline Group in Nov 2013.

Moreover, since Jan 2013, Huston took over the responsibilities of overseeing certain aspects of The Priceline Group’s international business, including inter-brand relations, distribution and geographic expansion.

DeVry currently sports a Zacks Rank #1 (Strong Buy). Other stocks in the same sector that can be considered include Capella Education Co. (CPLA) and Strayer Education Inc. (STRA), which carries a Zacks Rank #2 (Buy).

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