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In an unusual rebuke, Michael P. Berry resigned as a director of Santa Ana-based Corinthian Colleges Inc., saying in a letter dated Sunday that the operator of for-profit colleges and training centers had “lost its focus” and was afraid to make needed change.
Corinthian said Thursday that Terry Hartshorn, one of the founders of PacifiCare Health Systems Inc., had been named to succeed Berry, a restaurant industry consultant and a former executive at Calabasas Hills-based Cheesecake Factory Inc.
Corinthian shares, which have plunged 63% since spring 2004, rose 28 cents to $13.25.
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