Universal Technical Institute Welcomes Bruce Schuman as New CFO to Drive Growth and Profitability
Universal Technical Institute, Inc. (NYSE: UTI), a prominent name in workforce education focusing on transportation, skilled technicians, energy, and healthcare sectors, has announced the appointment of Bruce Schuman as its Chief Financial Officer. This decision, effective immediately, is seen as a key step toward augmenting the company's strategic growth and solidifying its financial foundation as it navigates through an important growth phase.
Jerome Grant, CEO of Universal Technical Institute, expressed confidence in Schuman’s extensive background in financial leadership, particularly in steering large organizations through transformative phases. "Bruce Schuman's experience will be invaluable... as we execute against the second phase of our North Star strategy," Grant stated. This strategy is designed to capture the growing demand for skilled workforce solutions in the U.S. within the next four years.
Prior to joining Universal Technical Institute, Schuman held the title of CFO at Vacasa, North America’s leading short-term rental management firm. Here, he played a pivotal role in shaping the financial strategy that culminated in the company's first profitable year in 2023. His previous experiences include serving as CFO at Kiavi, where he managed rapid growth and approached the company’s IPO readiness initiatives. Bruce also has significant tenure at Intel Corporation, where he held senior finance roles that included overseeing its Enterprise Data Center business and Intel Capital.
"As Universal Technical Institute continues to play a crucial role in providing skilled workforce solutions that drive the U.S. economy, I'm thrilled to join at such a crucial time,” remarked Schuman. This appointment is expected to support the company’s plans to deliver approximately 10% compound annual growth rate (CAGR) in revenue while increasing its adjusted EBITDA margin up to nearly 20 percent by fiscal year 2029.
The fundamentals of this strategy focus on growth, diversification, and optimization across both divisions of the company. The UTI division specializes in education for transportation and skilled trades, while Concorde Career Colleges emphasizes dental and nursing programs.
Recently, Universal Technical Institute released its financial results for the first quarter of fiscal year 2025, showcasing improvements in key performance indicators, including revenue, adjusted EBITDA, and enrollment numbers. The company has also raised its financial guidance for the fiscal year, indicating significant positive momentum.
The blend of Schuman’s impressive background with the company’s existing talent and strategic plans positions Universal Technical Institute for a future filled with opportunities for substantial growth and profitability. The leadership transition from Christine Kline, who served as interim CFO since October, back to her role as Chief Accounting Officer reflects a thoughtful approach in ensuring financial stability during a pivotal transitional phase.
Universal Technical Institute, founded in 1965, operates 15 campuses spread across nine states. It offers a wide array of educational programs under different brands such as UTI, MIAT College of Technology, Motorcycle Mechanics Institute, Marine Mechanics Institute, and NASCAR Technical Institute, while Concorde operates 17 campuses specializing in allied health, dental, and nursing fields.
For more details about their services and career opportunities, visit their official websites or follow them on social media platforms.
Jerome Grant, CEO of Universal Technical Institute, expressed confidence in Schuman’s extensive background in financial leadership, particularly in steering large organizations through transformative phases. "Bruce Schuman's experience will be invaluable... as we execute against the second phase of our North Star strategy," Grant stated. This strategy is designed to capture the growing demand for skilled workforce solutions in the U.S. within the next four years.
Prior to joining Universal Technical Institute, Schuman held the title of CFO at Vacasa, North America’s leading short-term rental management firm. Here, he played a pivotal role in shaping the financial strategy that culminated in the company's first profitable year in 2023. His previous experiences include serving as CFO at Kiavi, where he managed rapid growth and approached the company’s IPO readiness initiatives. Bruce also has significant tenure at Intel Corporation, where he held senior finance roles that included overseeing its Enterprise Data Center business and Intel Capital.
"As Universal Technical Institute continues to play a crucial role in providing skilled workforce solutions that drive the U.S. economy, I'm thrilled to join at such a crucial time,” remarked Schuman. This appointment is expected to support the company’s plans to deliver approximately 10% compound annual growth rate (CAGR) in revenue while increasing its adjusted EBITDA margin up to nearly 20 percent by fiscal year 2029.
The fundamentals of this strategy focus on growth, diversification, and optimization across both divisions of the company. The UTI division specializes in education for transportation and skilled trades, while Concorde Career Colleges emphasizes dental and nursing programs.
Recently, Universal Technical Institute released its financial results for the first quarter of fiscal year 2025, showcasing improvements in key performance indicators, including revenue, adjusted EBITDA, and enrollment numbers. The company has also raised its financial guidance for the fiscal year, indicating significant positive momentum.
The blend of Schuman’s impressive background with the company’s existing talent and strategic plans positions Universal Technical Institute for a future filled with opportunities for substantial growth and profitability. The leadership transition from Christine Kline, who served as interim CFO since October, back to her role as Chief Accounting Officer reflects a thoughtful approach in ensuring financial stability during a pivotal transitional phase.
Universal Technical Institute, founded in 1965, operates 15 campuses spread across nine states. It offers a wide array of educational programs under different brands such as UTI, MIAT College of Technology, Motorcycle Mechanics Institute, Marine Mechanics Institute, and NASCAR Technical Institute, while Concorde operates 17 campuses specializing in allied health, dental, and nursing fields.
For more details about their services and career opportunities, visit their official websites or follow them on social media platforms.
Topics General Business）
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