Bill Clinton Steps Down from Position at Laureate International Universities

AP Photo/Jessica Hill
AP Photo/Jessica Hill

From Bloomberg Politics

Former President Bill Clinton’s role at a for-profit higher education company will end Friday, just as his wife has begun questioning some of the industry’s practices from the campaign trail.

Since 2010, Clinton has been honorary chancellor of Laureate International Universities, part of Laureate Education Inc. the world’s largest chain of for-profit colleges. His departure has nothing to do with the campaign, the company and the former president’s office said, telling Bloomberg that he had agreed to a five-year term in the position.

The end of the former president’s role–which came with an undisclosed paycheck–comes as the Clintons face questions about possible conflicts of interest involving their financial interests, their family foundation and Hillary Clinton’s official work at the State Department.

Clinton’s departure also comes as Laureate prepares for an initial public offering. The company, which was publicly traded until a 2007 buyout led by private equity firm KKR & Co., is interviewing banks for a $1 billion IPO, Bloomberg reported Thursday.

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