DeVry chairman to step down in November

May 20, 2013

DOWNERS GROVE, Ill. (AP) -- The chairman of DeVry Inc., Harold Shapiro, will retire in November, at a time when the education company is struggling with shrinking U.S. enrollments.

Shapiro, a former president of Princeton University and the University of Michigan, has been DeVry's chairman since 2008 and on its board since 2001.

The Downers Grove, Ill., company said Monday a current director, Connie Curran, will become the new chair at the company's annual meeting on Nov. 6. A director since 2003, she has been a health care executive and consultant.

Shapiro's departure will shrink the board by one seat to 11 members.

New, stricter government regulations of the for-profit education industry and the sluggish economic recovery have cut into student numbers — and profits — at DeVry and similar school chains.