– USA, IL – DeVry Education Group (NYSE:DV), a global provider of educational services, today announced that it has appointed Michael W. Malafronte, managing partner of International Value Advisers, LLC (IVA) and president of the IVA Funds to its board of directors.
IVA currently owns 19.5 percent of the shares outstanding at DeVry Group. Malafronte is responsible for overseeing all aspects of IVA, including company strategy and managing resources. Prior to founding IVA, Michael spent more than 10 years serving in portfolio management and other investment-related roles and responsibilities at Arnhold and S. Bleichroeder Advisers and Oppenheimer & Close.
“We are pleased to bring new and fresh perspectives from the investment community to our boardroom with the addition of Mr. Malafronte,” said Chris Begley, chairman of DeVry Education Group. “We look forward to Michael’s contributions as we continue to position our organization for long-term success.”
Mr. Malafronte was appointed to the Board in connection with an agreement that contains standstill and voting provisions, which are subject to certain exceptions.
About DeVry Education Group
The purpose of DeVry Education Group is to empower its students to achieve their educational and career goals. DeVry Education Group Inc. (NYSE: DV; member S&P MidCap 400 Index) is a global provider of educational services and the parent organization of American University of the Caribbean School of Medicine, Becker Professional Education, Carrington College, Chamberlain College of Nursing, DeVry Brasil, DeVry University and its Keller Graduate School of Management, Ross University School of Medicine and Ross University School of Veterinary Medicine. These institutions offer a wide array of programs in healthcare, business, technology, accounting, finance and law.
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