- Blackboard Inc. President and Chief Executive Michael L. Chasen, who co-founded the company, will step down at the end of the year.
- Progress Software Corp.'s departing CEO Jay Bhatt will replace Chasen, and he released a statement calling the move "a tremendous opportunity for technology to continue to improve and extend education globally."
- Blackboard recently announced that it would be upping its investment in online program management services.
From the article:
"... Mr. Chasen co-founded the provider of online education-focused services in 1997 and oversaw more than 20 acquisitions. Providence Equity Partners took Blackboard private in 2011 in a $1.7 billion deal.
Blackboard Chairman Steve Alesio said Mr. Chasen 'has done a wonderful job in creating and growing Blackboard, and the leadership position he created for Blackboard was the primary reason Providence Equity Partners was attracted to the company and acquired it last year.' ..."