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PHOENIX - Apollo Group Inc., a for-profit education company that operates the University of Phoenix, on Monday named Charles B. Edelstein as its chief executive, effective Aug. 26.
The company has not had a permanent CEO since Todd S. Nelson departed in 2006 during an investigation of the company's stock option awards practices.
Edelstein, 48, was previously at Credit Suisse, where he was managing director and head of the global-services group within the investment banking division.
Apollo's founder John G. Sperling continues as executive chairman.
Last week, the Phoenix-based company reported fiscal third-quarter adjusted profit and sales above Wall Street expectations.
Shares of Apollo Group rose 5 cents to close at $55.23.
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