Brent Richardson has resigned as CEO of Dream Center Education Holdings after a tumultuous year since the non-profit took over three chains of career education schools — the Art Institutes, Argosy University, and South University — formerly owned by for-profit EDMC. A person close to DCEH management confirmed the resignation.
Under Richardson, the former CEO of for-profit Grand Canyon University, DCEH closed numerous campuses, laid off hundreds of staff, and faced numerous adverse actions by accreditors. As Republic Report first reported, last May, DCEH published false statements about the accreditation status of two of its schools, and seemed to be seeking to leverage the non-profit schools to make money for for-profit schools and other businesses in which Richardson and his family and close associates were invested.
We’ve been covering the DCEH saga, and the terrible impact for students, ever since, up to yesterday’s announcement that DCEH was, with the blessing of the DeVos Department of Education, restructuring, turning over the Art Institutes and South to a separate non-profit foundation, and putting a for-profit company, Studio Enterprise, in charge of providing services to all three chains.