Laureate executives to get big payouts for sale of online university – Baltimore Business Journal
The CEO of Laureate Education Inc. and other top executives are set to receive a combined $19 million after the company completes the sale of its global online university.
Baltimore-based Laureate announced in September that it had entered into a $1.48 billion agreement to sell Walden University to Adtalem Global Education Inc., an education and workforce solutions company based in Illinois. The deal is part of a broader strategy by Laureate to seek sales, spin-offs or business combinations of its universities and colleges.
A Nov. 9 filing with the U.S. Securities and Exchange Commission provided additional details about the sale, including so-called golden parachute payments for the Laureate executives.
Laureate CEO Eilif Serck-Hanssen will receive $8.5 million, including $4.8 million of cash and $3.6 million of equity. That total is more than double what Ravens running back Mark Ingram or kicker Justin Tucker make in an entire year.