Universal Technical Institute, Inc. Elects Two New Board Members
Total Board Membership Increased to Nine
PHOENIX, Feb. 23 -- Universal Technical Institute, Inc. , a provider of technical education training, today announced that two new members were elected to the Company's Board of Directors at its February 16, 2005 Annual Meeting of Shareholders.
UTI's shareholders elected Kimberly J. McWaters, the Company's President and Chief Executive Officer, as a Class I Director for a three-year term expiring in 2008, and Linda Srere, a marketing and advertising consultant, as a Class II Director for a one-year term expiring in 2006. Additionally, shareholders re-elected Mr. Kevin P. Knight and Mr. Conrad A. Conrad as Class I Directors for a term of three years expiring in 2008.
Ms. Srere will become a member of UTI's Compensation, and Nominating and Corporate Governance Committees, replacing Mr. Knight on the Compensation Committee and Mr. Conrad on the Nominating and Corporate Governance Committee. Mr. Knight will continue to serve as Chair of the Nominating and Corporate Governance committee and as a member of the Audit Committee. Mr. Conrad will continue to serve as Chair of the Audit Committee and as a member of the Compensation Committee.
Ms. McWaters, 40, joined UTI in 1984, and has served in a variety of positions including Vice President of Marketing and Vice President of Sales and Marketing. Ms. McWaters was appointed President of UTI in 2000 and Chief Executive Officer on October 1, 2003. She also sits on the Board of Directors of United Auto Group, Inc., a New York Stock Exchange listed company.
Ms. Srere, 49, is the former president of Young & Rubicam Advertising, a worldwide advertising network. She also served as Vice Chairman and Chief Client Officer for Young & Rubicam Inc. and was President of Young & Rubicam's New York office. Prior to her tenure at Young & Rubicam, Ms. Srere held executive management positions at several boutique advertising agencies in New York City. She also sits on the Board of Directors of two publicly traded companies, Electronic Arts, Inc. and aQuantive, Inc.
"We are thrilled to add Kim and Linda to our Board of Directors," said Robert Hartman, Chairman of Universal Technical Institute. "Based on the advice of our Nominating and Corporate Governance Committee, we expanded our board to nine members, the majority of whom are independent. Both Kim and Linda's significant experience and expertise will serve the Company well as we continue to implement our growth strategy by meeting the needs of our industry partners."
About Universal Technical Institute
Universal Technical Institute, Inc. is a provider of technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. The company offers undergraduate degree, diploma and certificate programs at eight campuses across the United States, and manufacturer-sponsored advanced programs at 22 dedicated training centers. Through its campus-based school system, Universal Technical Institute, Inc. offers specialized technical education programs under the banner of several well-known brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) and NASCAR Technical Institute (NTI). For more information, visit www.uticorp.com.