K12 names Davis as executive chairman

HERNDON, Va. (AP) -- Online educational provider K12's Chairman Nathaniel Davis is taking on the additional role of executive chairman.

As part of his new position, Davis will have oversight over all operational and corporate functions of K12 Inc. He has served as the company's chairman since June. Davis is the former president and CEO of XM Satellite Radio.

The Herndon, Va., company also named Margaret Jorgensen as chief academic officer. She will report to CEO Ron Packard.

Its shares finished at $20.64 on Wednesday.