I really feel that the fact that a mans promotion is counted on the stake of a degree considering his experience is a bit awkward but its all about the corporations rules as I might think .Not all companies have policies like these but a degree relates to your educational experience. Like you already suggested PU and Ashford are good but if you want more options I think that this link

As you are looking for online MBA degree, here's a good list of top online accredited universities that offer MBA degrees
http://www.distance-learning-college-guide.com/online-mba-programs.html
Feel free to request information from two or more of those colleges to compare who has the best offering that suits your needs. I hope it will help you.