NEW YORK, July 19, 2021 /PRNewswire/ -- The Board of
Directors of Scholastic Corporation (NASDAQ: SCHL) announced today
that Peter Warwick has been named
President and Chief Executive Officer of the global children's
publishing, education and media company, effective August 1, 2021. Mr. Warwick, 69, who has
served as an independent director on the Company's Board since
2014, assumes the lead operating roles and responsibilities of the
late M. Richard (Dick) Robinson,
Jr., who passed away in early June. In Mr. Warwick's new
role as CEO, he will be responsible for Scholastic's business
strategy and overseeing all business segments and corporate
functions.
"It is an honor to accept the position of CEO at one of the
premier publishing houses in the world, and to lead our dedicated
and exceptionally talented management team and employees," Mr.
Warwick said. "Dick Robinson built
Scholastic into the most admired global children's book and
education business. His devotion to children's literacy, education,
and journalistic integrity was so profound it is ingrained in the
culture of the Company. I am deeply committed to continuing to
embrace these same principles going forward and build upon the core
Scholastic mission while creating value for all of our
stakeholders. As a Board member for the last seven years, I have
been part of the decisions that have built a powerful business
platform and enhanced our beloved brand. We will grow our business
by continuing to create new and exciting content, developing
educational programs in print and digital formats, and further
strengthening our partnerships with children, parents and educators
around the world."
The Board of Directors issued the following statement: "Peter
will be only the third CEO in Scholastic's rich 100-year history,
and he has proven himself exceptionally qualified to take on that
role. During his tenure as a member of the Board, Peter has been an
effective and creative leader and advocate for Scholastic. His
prior career as the chief executive officer of significant business
units within Thomson Reuters and Pearson provides Peter with the
requisite experience and insights to deliver strong growth and
financial performance at Scholastic. Under Peter's leadership, our
collection of great businesses, unparalleled content, and
remarkable people will continue and grow in strength to serve our
customers, shareholders and other stakeholders."
The Company also announced the immediate appointment of two new
members to the Company's Board of Directors. Iole Lucchese, the Executive Vice President,
Chief Strategy Officer of the Company and President, Scholastic
Entertainment, was elected to fill the Board seat recently vacated
by the passing of Dick Robinson,
with the Board also appointing Ms. Lucchese as the Chair of the
Board. In her current executive positions, which she will continue
to hold, Ms. Lucchese has worked in partnership with Dick Robinson to advance the Company's strategic
and creative initiatives across all operating units, including new
product and program offerings, business transformation, and digital
expansion, as well as overseeing the Company's digital content and
marketing initiatives and its expanding media activities. Ms.
Lucchese has been with the Company for 30 years, starting her
career with Scholastic Canada and rising to the leadership of
Scholastic Canada before moving to the Company's headquarters
office in New York City.
Throughout her career, she has evidenced a strong track record of
instigating effective change, including the significant expansion
of the book publishing and distribution group in Canada, the expansion of the Company's digital
activities, and her responsibility for the renewal of its media
activities, strengthening the "Scholastic" brand through bringing
Scholastic's highly engaging content to audiences in new
formats.
Additionally, Robert Dumont has
been elected as a director of the Company, as designee of the
Robinson Family. Mr. Dumont is currently the principal at Robert
Dumont PLLC, a NY-based boutique law firm specializing in tax and
estate planning for international private clients. Mr. Dumont
established his private practice after 30 years of experience with
large organizations: first as a partner in Baker & McKenzie and
then as the leader of Deloitte Tax LLP's international private
client practice. Mr. Dumont fills the Board seat held by
Andrew Hedden, who resigned from the
Board for this purpose after 30 years of Board service. Mr.
Hedden continues to serve the Company as its Executive Vice
President, General Counsel and Secretary. James W. Barge will
continue to serve as the Board's Lead Independent Director.
Commenting on these director appointments, the Company's Board
of Directors stated, "We are pleased to welcome Iole and Bob to our
Board. They bring decades of leadership and insights that are vital
to Scholastic's future success. Their good counsel, expertise and
passion will add a new energy to our Board, further strengthening
our commitment to the continuance of Scholastic's mission of
creating, in both print and digital formats, books, educational
materials and children's media that encourage and inspire students
from all backgrounds throughout the world."
The Board further stated, "We believe the executive and Board
leadership changes made today, in the wake of Dick Robinson's passing, will provide the
organizational direction necessary to move Scholastic forward
in continuing and building upon its core mission and its focus on
our customers, parents, educators and the children."
About Scholastic
For more than 100 years, Scholastic Corporation (NASDAQ: SCHL)
has been encouraging the personal and intellectual growth of all
children, beginning with literacy. Having earned a reputation as a
trusted partner to educators and families, Scholastic is the
world's largest publisher and distributor of children's books, a
leading provider of literacy curriculum, professional services, and
classroom magazines, and a producer of educational and entertaining
children's media. The Company creates and distributes bestselling
books and e-books, print and technology-based learning programs for
pre-K to grade 12, and other products and services that support
children's learning and literacy, both in school and at home. With
15 international operations and exports to 165 countries,
Scholastic makes quality, affordable books available to all
children around the world through school-based book clubs and book
fairs, classroom libraries, school and public libraries, retail,
and online. Learn more at www.scholastic.com.
SCHL: Financial
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SOURCE Scholastic Corporation