Chairman retakes CEO role at K12

Chairman Nathaniel Davis is taking on the additional role of CEO at education company K12 (NYSE:LRN).

He had previously been CEO from January 2014 through February 2016; he"s been chairman of the board since summer 2012, and executive chairman since January 2013.

He"s replacing Stuart Udell, who resigned the CEO post and his board seat effective March 2 due to the board"s decision to redefine his responsibilities.

Excluding the impact of Udell"s severance amounts, the company"s reaffirming guidance for Q3 and fiscal 2018, Davis says. “We are right where we need to be at midyear to achieve our objectives for fiscal year 2018 and beyond.”