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Laureate Education Inc. announced Thursday that effective Jan. 1, 2018, Eilif Serck-Hanssen will become the for-profit company's new chief executive officer and Ricardo Berckemeyer will take over as the company's president. Serck-Hanssen is replacing current CEO Douglas Becker, who will become the nonexecutive chairman of Laureate's Board of Directors.

Serck-Hanssen is currently the company's president and chief administrative officer, and Berckemeyer is the current chief operating officer.

"Eilif has worked closely with me as a colleague and thought partner for many years," Becker said in a news release. "His demonstrated track record of success, experience and passion for education make him uniquely qualified to take on the leadership of the company."