Krawcheck Nominated to Board of 2U Ahead of Education Firm’s IPO

Feb 24, 2014 8:37 am ET

Feb. 24 (Bloomberg) -- Sallie Krawcheck, the former executive at Bank of America Corp. and Citigroup Inc., has been nominated to join the board of 2U Inc., the maker of online educational systems that’s planning to go public.

Krawcheck, 49, will take one of two new seats on the board along with Earl Lewis, 58, president of the Andrew W. Mellon Foundation, according to a statement today from Landover, Maryland-based 2U. The firm previously filed plans with securities regulators for a $100 million initial public offering underwritten by firms that include Goldman Sachs Group Inc.

Co-founders of 2U include Christopher Paucek, formerly the chief executive officer of Smarterville Inc., which was the parent company of Hooked on Phonics, according to the filing.

--Editors: Rick Green, Steve Dickson