January 23, 2015
To: Prospective Employees – Zenith Education Group
From: Dave Hawn, CEO, ECMC Group
Jack Massimino, Chairman and CEO, Corinthian Colleges Inc.
Subject: CCi – Zenith/ECMC Transaction Update
Sometimes no news is good news, and that’s where we stand today. We remain on track to close the sale of most of the Everest and WyoTech schools to Zenith Education Group on February 2. The sale of Everest College Phoenix and Everest Rochester to Zenith is still expected to close in March.
Although we have no new specifics to report, we continue to obtain the necessary regulatory approvals to close the transaction; transfer major vendors to Zenith/ECMC; and plan for a smooth transition of employee payroll and benefits to Zenith. We now expect to email offer letters to employees on January 28 and 29.
We appreciate your continued patience through the home stretch. Thanks again for keeping our schools running and our students focused on their educational programs as we proceed with final preparations for the close.