Universal Technical Institute Appoints Bruce Schuman as CFO
Universal Technical Institute Welcomes Bruce Schuman
Universal Technical Institute, Inc. (NYSE: UTI), a prominent provider of workforce education programs, is excited to announce the appointment of Bruce Schuman as the new Chief Financial Officer, effective immediately. With extensive experience in senior financial leadership, Schuman's expertise is expected to significantly enhance the financial operations of the organization.
Leadership Experience to Drive Transformation
Bruce Schuman brings decades of financial leadership from both publicly-traded and privately-held companies. His background includes pivotal roles in organizations that have navigated transformative changes. As Universal Technical Institute enters the next phase of its growth strategy, Schuman's insight will be invaluable.
Growth and Opportunity Ahead
“The next four years present substantial opportunities for enhancing growth and profitability as we meet the increasing demand for skilled workers,” said Jerome Grant, CEO of Universal Technical Institute. “I am eager to work closely with Bruce to achieve our strategic goals and to ensure we are poised to capitalize on these opportunities.”
Bruce Schuman’s Impressive Track Record
Before joining Universal Technical Institute, Schuman served as CFO for Vacasa (NASDAQ: VCSA), the largest short-term rental property management company in North America. His responsibilities there included driving financial strategy and operational excellence, which led to the company achieving its first year of profitability in 2023. Additionally, he has held senior positions at Kiavi, where he played a key role in leading the organization through a period of rapid growth and IPO readiness.
Strategic Vision for Future Success
Schuman expressed enthusiasm about his new role by stating, “I am excited to join Universal Technical Institute at this pivotal moment in its expansion journey. Collaborating with the executive team and the talented workforce is crucial to driving continued success.”
Focused Strategies for Business Improvement
As Universal Technical Institute executes the next phase of its North Star strategy, the emphasis will be on achieving approximately 10% revenue Compound Annual Growth Rate (CAGR) with the aim of expanding its Adjusted EBITDA margin to nearly 20 percent through fiscal 2029. This dual focus on growth and optimization is designed to strengthen both operational segments: the UTI division, which provides education for trades and transportation, and Concorde Career Colleges, specializing in healthcare professions.
Recently, Universal Technical Institute disclosed its financial performance for the first quarter of fiscal 2025, reporting improved year-over-year metrics in revenue, Adjusted EBITDA, and student enrollments. The company is also optimistic about future projections and has accordingly increased its guidance for the fiscal year.
About Universal Technical Institute, Inc.
Founded in 1965, Universal Technical Institute, Inc. (NYSE: UTI) provides cutting-edge workforce solutions in transportation, skilled trades, and healthcare education. The organization is dedicated to producing skilled graduates prepared to meet the market's demands. With 15 campuses across the U.S., it proudly offers diverse programs under various brands, including MIAT College of Technology and Motorcycle Mechanics Institute.
Staying Connected with UTI
To learn more about Universal Technical Institute, visit the official website for the latest updates and investor information.
Frequently Asked Questions
Who is Bruce Schuman?
Bruce Schuman is the newly appointed Chief Financial Officer of Universal Technical Institute, bringing significant financial leadership experience.
What role will Bruce Schuman play at UTI?
He will oversee the financial operations of UTI and contribute to its strategic goals as the organization pursues growth and transformation.
What is the purpose of UTI's North Star strategy?
The North Star strategy aims to drive revenue growth and optimize operations, ensuring UTI meets the market demand for skilled professionals.
What recent financial results did UTI report?
UTI announced strong financial performance, with improvements in revenue and new student enrollment metrics for the first quarter of fiscal 2025.
How many campuses does UTI have?
Universal Technical Institute operates 15 campuses throughout the United States, offering various educational programs across different trades.
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