The Board of Directors of Zovio (the "Company") sets high standards for the Company's employees, officers and directors. Implicit in this philosophy is the importance of sound corporate governance. It is the duty of the Board of Directors to serve as a prudent fiduciary for stockholders and to oversee the management of the Company's business. To fulfill its responsibilities and to discharge its duty, the Board of Directors follows the procedures and standards that are set forth in the committee charters and governance documents set forth below. These documents below are subject to modification from time to time as the Board of Directors deems appropriate in the best interests of the Company or as required by applicable laws and regulations.

Board of Directors

Andrew Clark

Andrew S. Clark has served as our Chief Executive Officer and a director since November 2003 and as our President since February 2009. Mr. Clark also served from March 2005 to December 2008 on the Board of Trustees for Ashford University. Prior to joining us in November 2003, Mr. Clark consulted with several private equity firms examining the postsecondary education sector. Prior to 2003, Mr. Clark worked for Career Education Corporation as Divisional Vice President of Operations and Chief Operating Officer for American InterContinental University in 2002. From 1992 to 2001, Mr. Clark worked for Apollo Group, Inc. (University of Phoenix), where he served in various management roles, culminating in his position as Regional Vice President for the Mid-West region from 1999 to 2001. Mr. Clark earned an MBA from the University of Phoenix and a BA from Pacific Lutheran University.

Teresa Carroll

Teresa S. Carroll has served as a director of our company since March 2018. Ms. Carroll is currently the President of Oasis Outsourcing, a Paychex Company. Formerly, Ms. Carroll was a President at Kelly Services, Inc., a global leader in workforce management solutions.

Ms. Carroll earned a B.S. from the GMI Engineering and Management Institute (now Kettering) and an M.B.A. from the University of Michigan.

Michael P. Cole

Michael P. Cole, 47, founded SevenSaoi Capital (“7C”), an investment management firm, in 2016. Previously, he served as President of MAEVA Group, a turnaround-oriented merchant bank. Prior thereto, Mr. Cole was with Madison Dearborn Partners, a Chicago-based private equity firm that manages $23 billion in equity capital, for nearly 17 years. Mr. Cole currently serves as a director of Univision Communications, Inc. and has also served on the boards of a number of other companies, including Merge Healthcare Inc., MetroPCS Communications and The Topps Company. Mr. Cole also worked in a senior-level role on Madison Dearborn’s investments in technology-enabled service companies such as Intelsat, Ltd. and XM Satellite Radio. Mr. Cole was named a “Top 40 Global Dealmaker under 40” by Dealmaker Magazine and a “Top 40 Under 40” business leader by Crain’s Chicago Business. Mr. Cole received his A.B. degree from Harvard College.

Ryan Craig

Ryan Craig has served as a director of our company since November 2003. Mr. Craig is a founding partner of University Ventures, an investment fund focused on higher education. Prior to that, he was founder and President of Wellspring, an organization providing treatment programs for overweight and obese adolescents. From 2001 to 2004, Mr. Craig was an Associate at Warburg Pincus in the education sector. From 1999 to 2001, Mr. Craig served as Vice President Business Development for Fathom, a consortium of universities, museums and libraries. From 1994 to 1996, he worked as a consultant with McKinsey & Company. Mr. Craig also serves as a director for seven private companies.

Mr. Craig earned a BA from Yale University and a JD from Yale Law School.

Michael Horn

Michael B. Horn has served as a director of our company since August 2017. Mr. Horn currently serves as the owner of Horn-Ed LLC, serving as Board Member, advisor, and consultant to a portfolio of education companies. He is also a Venture Partner for Nextgen Venture Partners since 2017. Mr. Horn has served as the Chief Strategy Officer and Senior Partner at The Entangled Group and Entangled Solutions since October 2015 and as Co-Founder, Distinguished Fellow, and Board Member of Clayton Christensen Institute for Disruptive Innovation since October 2015. Previously, Mr. Horn served as Co-Founder and Executive Director, Education, of the Clayton Christensen Institute for Disruptive Innovation from 2007 through October 2015. Mr. Horn also serves as a director for three private companies.

He holds a BA in History from Yale University and an MBA from the Harvard Business School.

John Kiely

John Kiely has served as director of our company since July 2019. Mr. Kiely was also named to the board of Amneal Pharmaceutical in December 2019. Mr. Kiely retired from PricewaterhouseCoopers LLP, in 2019 where during his 39 year career he had significant leadership roles, including Assurance Chief Quality Officer, Assurance Leader of the Private Equity Sector, and Leader of the U.S Pharmaceutical Industry. Additionally, he had extensive experience working with Fortune 500 companies and Private Equity portfolio companies.

Mr. Kiely earned a B.A. from St Francis University (Pa) and is a certified public accountant.

Kirsten Marriner

Kirsten M. Marriner has served as a director of our company since March 2018. She is the Executive Vice President - Chief People Officer of the Clorox Company, a position she has held since March 2016. Prior to joining the Clorox Company, she served as Senior Vice President and Chief Human Resources Officer at Omnicare, from March 2013 to August 2015. She served in various leadership roles, including as Senior Vice President, Director of Talent Management and Development at Fifth Third Bank, from October 2004 to March 2013.

Ms. Marriner earned a B.S. from John Carroll University and an M.B.A. from Cleveland State University.

Victor Nichols

Victor K. Nichols has served as a director of our company since September 2014. Mr. Nichols became an independent advisor to Harland Clarke Holdings effective June 2019, and was previously the Chairman of Harland Clarke Holdings, a portfolio of companies optimizing customer relationships through a broad variety of omni-channel solutions. Mr. Nichols also served as the CEO of Harland Clarke Holdings from January 2017 until December 2018.

Prior to this role, he served as the Chief Executive Officer of Valassis, a wholly owned subsidiary of Harland Clarke Holdings. He has also served as Chief Executive Officer for North America at Experian, a global leader in data-and analytics-based information services, as well as the Managing Director, UK & EMEA at Experian. In addition, Mr. Nichols has held strategic roles as Chief Information Officer for Wells Fargo & Company and Chief Executive Officer of VICOR, a company delivering advanced corporate receivables management solutions. His extensive experience also includes serving as President of Safeguard Business Systems as well as various senior leadership positions at Bank of America managing the consumer lending business and retail operations. Mr. Nichols currently sits on public and charitable boards and advisory committees, including Bank of Hawaii Corporation, Revlon Inc., and Bloom.

Mr. Nichols holds a B.A. in Economics from the University of California, San Diego and an M.B.A. from the University of California, Berkeley.

George Pernsteiner

George Pernsteiner currently serves as the Chairman of the Board of Directors, and has served as a director of our company since August 2017. Recently, he served as President of the State Higher Education Executive Officers Association, which represents chancellors and commissioners of higher education from every state, from September 2013 until August 2017. Previously, Mr. Pernsteiner also served as Chancellor of the Oregon University System from July 2004 through May 2013.

Mr. Pernsteiner has a B.A. in Political Science from Seattle University and an M.P.A. from the University of Washington in Public Administration.

Committee Composition

George Pernsteiner currently serves as the Chairman of the Board of Directors. Below is a summary of our committee structure and membership information. To read more about any of the committees, click on committee names in the chart below.