"AlixPartners, the global business-advisory firm, and Career Education Corporation (NASDAQ: CECO), a provider of postsecondary education programs and services, announced today that they received the Turnaround Management Association's Midwest Chapter's "Large Turnaround of the Year" award. The AlixPartners team was led by Darin Facer and Keith Gillespie, managing directors in the firm's Enterprise Improvement group.
AlixPartners and Career Education worked together to successfully execute a turnaround plan that, along with other actions, saw a reduction of operating expenses by $270 million and an improvement of net cash flow of $118 million in 2013, compared to 2012. Most importantly, the turnaround actions are seen as continuing educational opportunities for the more than 45,000 students who attend Career Education colleges, universities and institutes." - See more at: http://www.globenewswire.com/news-release/2014/10/28/677232/10104825/en/AlixPartners-and-Career-Education-Corp-Honored-by-Turnaround-Management-Association-s-Midwest-Chapter.html#sthash.q22ZVgDO.dpuf