It finally happened. Chip is gone. Paul Lalljie Is being moved from CFO to CEO and Matt Norden is stepping up as CFO (while also remaining CLO). Chip is also off the board too.
https://www.prnewswire.com/news-releases/2u-inc-announces-leadership-transition-301991682.html
Chip made close to $50 million while he forgot about the original 4 schools and the admissions counselors who paved the way. He kinda stole the idea of the Pro Athlete Community (PAC) from a co-worker of mine back in 2014 when he spoke with him about something like this in his office privately. Now he can move back to Miami and get into the George Jung line of business. Hopefully, he stops using his own product. But Chip used to be a nice guy, the real sc-m is James Kenigsberg. He can get really arrogant and nasty when he is drunk. I have the videos and photos to prove.
Do you have more on the DOL threats being rescinded? Is that recent and/or public? That was a huge weight on the company...
The US Dept of Education's original regulatory threats against OPM's, announced last winter have been rescinded, but they damaged 2U's value. It will be difficult for the USDOE to impose such restrictions given the objections of traditional universities, so OPM's like 2U should eventually survive stronger.
Good riddance and on another note because I feel like it, Don’t Stop Believing su-ks. It’s overrated, nobody wants to be born in Detroit and the only good association is Meadow failing to parallel park
Lalljie start saving REAL $$$ get rid of these waaaay overpaid vps and directors
Just a cool 240k a year doing absolutely nothing! Our system is great.
SEC filing - 20k/month consulting fee. Public record.
You can call someone else the captain after the ship has already started to descend into the unforgiving and consuming ocean water, but the ship is going down and chippy is the special advisor who will have his dingy at the ready while the rest of the crew perishes.
USA Today is working on a story. What would you want to tell them?
@lru+1pDHfryi "They would have likely brought in a new CEO from outside if they wanted to keep it going."
That implies someone from the outside would want to take that job right now. I wouldn't be surprised if they looked externally and couldn't convince anyone to waste their time on this mess.
Btw, Chip’s salary as “special advisor” is still probably one of the highest in the entire company.
Here's the thing. I think this is just a temporary move. Paul is the finance guy. They are prepping us for sale. They would have likely brought in a new CEO from outside if they wanted to keep it going. Just my thoughts. Maybe LearningMate will do a full buy out. They could get us at a bargain price right now.
That ain't no lie..bye, bye, bye!
it's too little too late to actually save any of us, but I'm happy to see him FINALLY get what's due, bye-bye Chip! can't say I'll miss you!
Good riddance.
Boy, bye.