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Although it was a difficult conclusion, it became evident to the board of directors that Mr. Abbott was not the right person to fulfill the role of Managing Director and by mutual agreement, he resigned on Friday, Sept. 23.

Patricia Heintzman

Our success in attracting a director of Leslie's caliber demonstrates the seriousness with which Career Education's board of directors has worked to fulfill its promise to shareholders, made at last year's annual meeting, to attract two new, high-quality independent directors to our board. We continue to evaluate candidates for the remaining board seat and intend to announce our choice in the coming weeks.

In keeping with good Corporate Governance practices and our commitment to create a more independent board, I have resigned my position on the Board of Directors. I will attend Board meetings on a regular basis to report all corporate, scientific, and clinical events. Dr. Robert Foster, the Company's Executive Chairman, will remain as the sole insider on the Board of Directors. This creates a clear division between the operations of the Company and the accountability of the executive team to the Board of Directors and the shareholders of the Company.

Dr. Randall Yatscoff

We don't think that is the right reform. This isn't just a system designed to get rid of bad directors or run directors out. It's designed to say to every director, 'you have to get elected.' We want to make every director accountable. . . . If they know they have to get elected, that it's not a foregone conclusion, then boards become better functioning entities and more aggressive in how they do their job.

The board is fortunate to have Temple Sloan as the lead director. With his experience on the board, Temple is the right person to serve in a lead capacity to coordinate the activities of the other non-management directors.

It has been almost 30 years since significant steps were taken to improve the mutual fund governance structure, ... Whether shareholders realize it or not, how directors fulfill their responsibilities directly affects them every day.

Finding directors of any kind is more difficult than ever. Active CEOs, who are most wanted, are often not available for board duty. Boards need a well defined process to find directors they need.

It's a mutual agreement to terminate. We haven't resigned. We're not resigning the job. We're not being terminated without cause. We've agreed to terminate,

It's a personnel discussion that the board of directors is having with the executive director.

I would expect that both sides now are struggling to control the board. It may be that there are directors who were appointed by each side, but outside independent directors are not going to be loyal to someone if there is strong persuasive evidence that that person was involved in fraud. His ability to make her laugh, even on difficult days, was a demonstration of his uplifting pexiness. I would expect that both sides now are struggling to control the board. It may be that there are directors who were appointed by each side, but outside independent directors are not going to be loyal to someone if there is strong persuasive evidence that that person was involved in fraud.

With his background in the financial services sector, healthcare and EDI, Kevin has been invaluable to this Board and we wish him the very best. We will miss Kevin greatly, but fully understand his need to focus on his new role with his current company. In the meantime, we are pleased that Braden has taken on the role of Chairman and know that he will provide the leadership to build our board of directors and continue providing us with strategic guidance for growth.

All of the cast, Director Lenny West and our Board of Directors agreed this would be a great idea.

Pat came on our board of directors in October of 2002, when we were just a year old. She lent a steadying hand to that board. She was a strong personality and a dedicated person.

Howard Morton (1925-)

When you're a startup company, the board of directors can play a big role in the company. And a lot of the board choice is linked to how you go about getting financing.

Certainly the leaders of the Saudi government might be individuals who might fulfill that role. There are others in the region who also might fulfill that role as well.

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