Universal Technical Institute appoints a New CFO From Houston - PhoenixCEOCFO.com

Universal Technical Institute appoints a New CFO From Houston

Universal Technical Institute, Inc.(UTI) announced that it had hired Eugene Putnam as its CFO. Putnam had been UTI's interim CFO since February 2008, working through Resources Global Professionals. Putnam, 48, had served as the CFO of Houston-based Aegis Mortgage Corporation, a defunct mortgage lender. Mr. Putnam holds an MBA from the University of North Carolina and a B.S. in Economics from UCLA.

Putnam has a 3 year employment agreement at a $300,000 base with a potential bonus of 50% of his salary. He will receive a sign-on bonus of $50,000, relocation expenses, equity grants of $160,000 in restricted stock and $140,000 in stock options.

The former CFO, Jennifer Haslip, received 18 months severance of $390,000, plus medical and dental benefits for 18 months. She will also receive twelve months of outplacement services and reimbursement for certain attorneys' fees of $10,000.

UTI is a provider of post-secondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. UTI's stock was at $16 at the end of August 2008 which is near its 52-week high of $22.

John Laub is the Chairman of the Phoenix CEO-CFO Group.

1. "Universal Technical Institute Appoints Eugene Putnam Jr. as CFO." RRTNews. Company Press Release. July 29, 2008.

2. 8K filed 3/21/2008. Universal Technical Institute.

3. 8K filed 7/29/2008. Universal Technical Institute.