By Phil Hill. After our coverage of Blackboard’s CEO change last week, we were both interviewed by the Washington Business Journal, with the following lede:
Analysts and sources I spoke with Monday, both on and off the record, said the decision to bring on Bill Ballhaus as CEO was a combination of Bhatt failing to make progress building the company’s business and lacking the experience needed to successfully run a company of that scale. And that means at least several years before Providence Equity Partners, which owns a majority of the company after paying $1.64 billion for it in July 2011, begins actively marketing the company for sale, according to industry experts.
Earlier this week I wrote about Apollo Education Group, parent of the University of Phoenix, putting itself up for sale due to its weakening financial position. More...