Grand Canyon Education CFO Daniel Bachus Placed on Leave
In a regulatory filing, Grand Canyon Education disclosed that the company's board has unanimously determined to place Daniel Bachus, the company's Chief Financial Officer, on paid administrative leave, effective August 21. "Mr. Bachus' leave is in connection with an ongoing governmental investigation involving a non-employee third party's trades in Company stock. The administrative leave is not the result of any issues with the Company's financial statements or accounting policies or practices. The Company is not a focus of this investigation. The Company engaged outside counsel and is conducting its own investigation into the matter and is cooperating with the government in its investigation. The Board of Directors of the Company appointed Lori Browning, the Senior Vice President & Controller - Chief Accounting Officer of the Company, to serve as the interim chief financial officer and interim principal financial officer of the Company, effective August 21, 2026. Ms. Browning, age 59, joined the Company in 2008 and served as Vice President - Controller until 2019, when she was appointed as the Senior Vice President & Controller - Chief Accounting Officer. Prior to joining the Company, Ms. Browning served in various accounting and finance management positions in higher education from 1990 to 2007. Ms. Browning has been an Arizona certified public accountant since 1996 and received two B.S. degrees in Finance and Accounting from Arizona State University," the filing noted.
