Organizational structure sets up 2U to improve
profitability, cash flow, and future growth
LANHAM,
Md., Jan. 3, 2024 /PRNewswire/ -- 2U, Inc.
(Nasdaq: TWOU), a leading online education platform company, today
announced that it has created two executive roles to lead each of
the company's business segments. Andrew
Hermalyn has been appointed President of the Degree Program
Segment, and Aaron McCullough has
been appointed President of the Alternative Credential Segment.
In their new roles, Hermalyn and McCullough will have
responsibility for all aspects of 2U's Degree Program and
Alternative Credential Segments, respectively, and will continue to
report directly to Chief Executive Officer Paul Lalljie.
"These appointments mark another important step in streamlining
our organization as we focus on refining our business model to
deliver products profitably with great outcomes for our learners,
partners, and shareholders. Our organizational design is now
characterized by clear lines of accountability and streamlined
decision-making," said Lalljie. "Together, Andrew and Aaron embody
a leadership ethos that prioritizes collaboration, innovation, and
a relentless pursuit of excellence. Their combined expertise and
deep institutional knowledge of our business will help position 2U
for profitable growth."
Hermalyn has been with the company since its inception, holding
a wide range of leadership positions during his tenure. As 2U's
first director of business development, Hermalyn helped
successfully negotiate many of the company's earliest partnerships.
Later, in his roles as Executive Vice President of Strategic
Partnerships and President of Partnerships, Hermalyn played a
crucial role expanding and nurturing the company's relationships
with its network of 250 world-class university and corporate
partners.
"Having been part of 2U's remarkable journey for 15 years, I
have witnessed our incredible evolution and am deeply committed to
driving our business towards its brightest future," said Hermalyn.
"I am excited to help steer us to new heights of success."
McCullough joined 2U in July of 2023 as Chief Product Officer.
Prior to joining the company, McCullough was Vice President and
General Manager of the consumer segment at Coursera where he was
instrumental in driving the company's comprehensive consumer
vision, strategy, learner experience, and platform optimization.
Prior to this role, he served as Coursera's Vice President of
Product Management and was responsible for the consumer-facing
experience across growth, discovery, commerce, and retention.
"In my short time here, I've been deeply impressed by 2U's
commitment to its mission and the remarkable talent and innovative
spirit of 2U's employees," said McCullough. "I am thrilled to be
part of this dynamic team and look forward to contributing to our
renewed focus on profitable growth and cash flow to help shape an
exciting future for the company."
About 2U, Inc. (Nasdaq: TWOU)
2U is a global leader in online education. Guided by its founding
mission to eliminate the back row in higher education, 2U has spent
15 years advancing the technology and innovation to deliver
world-class learning outcomes at scale. Through its global online
learning platform edX, 2U connects more than 81 million people with
thousands of affordable, career-relevant learning opportunities in
partnership with 250 of the world's leading universities,
institutions, and industry experts. From free courses to full
degrees, 2U is creating a better future for all through the power
of high-quality online education. Learn more at 2U.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding
2U, Inc. ("2U" or the "company"). All statements in this press
release that are not historical including, without limitation,
those regarding the impact of the organizational design changes on
future profitability, cash flow and revenue growth and execution of
the company's other business and financial goals, are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are not guarantees of future
performance and involve risks, assumptions and uncertainties,
including those described under the heading "Risk Factors" in our
Annual Report on Form 10-K for the year ended December 31, 2022, and other SEC filings. Should
one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those indicated or anticipated by such
forward-looking statements. These forward-looking statements speak
only as of the date they are made. We do not undertake, and
expressly disclaim, any duty or obligation to update publicly any
forward-looking statement after the date of this release, whether
as a result of new information, future events, changes in
assumptions or otherwise.
Investor Relations Contact: investorinfo@2u.com
Media Contact: media@2u.com
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SOURCE 2U, Inc.