NEW YORK – Career Education Corp. announced the resignation of board member David Devonshire on Thursday and said that the seat will not be filled.
Devonshire submitted his resignation citing health issues.
Devonshire, 69, has been on the board of the for-profit school since March 2008 and was its chairman for a year beginning in May 2013. He has most recently been a member of the board's audit and compensation committees.
His resignation will be effective immediately prior to the company's annual meeting Tuesday. The size of the board will be reduced to eight directors.
Shares of the Schaumburg, Ill., company have been under strain, falling almost 40 percent this year.