Exhibit 99.1
PETER WARWICK NAMED CHIEF EXECUTIVE OFFICER
OF SCHOLASTIC CORPORATION
Iole Lucchese and Robert Dumont Join Scholastic’s Board of Directors
New York – July 19, 2021 – 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.
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