Universal Technical Institute Inc. (UTI) announced that effective May 14 Scott Yessner assumed the role of interim chief financial officer (CFO) of the company and will report to UTI’s President and CEO Kim McWaters.
Yessner succeeds Bryce Peterson, who has left the company by mutual agreement to pursue other interests. UTI clarified that Peterson’s departure was not the result of any dispute or disagreement with the company on any matter relating to our company’s accounting practices or financial statements. He will be available to assist UTI with the transition.
Yessner will serve as the company’s principal financial officer and principal accounting officer until a permanent CFO is appointed. He will provide his services through an agreement between the company and Tatum, a professional services company.
“We thank Bryce for his many contributions to UTI, in particular the successful implementation of our financial improvement plan last year. We wish him well in his future endeavors and appreciate his support during this time of transition,” said McWaters. “We are pleased Scott is bringing his relevant experience and expertise as interim CFO at this important and transformative time for our business.”
Yessner has a strong financial services background and brings nearly 20 years of financial experience. With Tatum, a Ranstad company, he currently leads a consulting practice that specializes in helping publicly traded companies generate earnings and value transformation through strategy, business re-engineering and corporate development. Previously, Yessner was group CFO, Wealth and Corporate Banking with MUFG Union Bank and had CFO executive responsibility for accounting, SEC and regulatory reporting, treasury, strategy/M&A, FP&A, capital/external stakeholder management and governance. In addition, he was group CFO for Wells Fargo Advisors / Wachovia Securities. He also held financial leadership roles at Jackson National Life Insurance Co., The Balance Sheet Co. and Countrywide Financial Corp. He holds a Bachelor of Economics degree from the University of California, Los Angeles and is a certified public accountant.