Apollo Group (APOL) in a press release well after market close last night announces a new president and offers up the usual superlatives. One sentence does bother me. The old president resigned as both officer and director. Old presidents usually stay on the board to offer counsel and advice. The executive suite shuffle seems a little fast and furious. Oh by the way there is also a new interim executive chairman of the board. This does not sound like a smooth transition.
APOL 1-yr chart: