John Fry

subsidiary, which markets online Drexel degree programs. Prior to becoming President of Drexel University, Mr. Fry served as President of Franklin & Marshall College in Lancaster, Pennsylvania from 2002 until 2010. From 1995 to 2002, he was Executive Vice President of the University of Pennsylvania and served as the Chief Operating Officer of the University and as a member of the executive committee of the University of Pennsylvania Health System. Mr. Fry is a member of the Board of Trustees of Delaware Investments, an asset management firm, with oversight responsibility for all of the portfolios in that mutual fund family. He also serves on its audit committee and nominating and corporate governance committee. Mr. Fry also serves as a director of the Hershey Trust.

Mr. Fry’s unique experience as the president of several academic institutions, together with his prior experience with the University of Pennsylvania Health System and service on the boards of a number of non-profit institutions, bring two important perspectives to our Board of Directors. His familiarity with the governance issues faced by non-profit organizations assists our Board of Directors in understanding the competitive environment in which many of our competitors and acquisition targets operate. His educational background (MBA in accounting from New York University) and experience in financial management, financial reporting, audit and compliance, and risk management are all skill sets available to and needed by our Board of Directors.