Wiley Announces CEO Transition
10 Oktober 2023 - 2:30PM
Business Wire
- Brian Napack to depart the Company as President and CEO
effective immediately
- Former Group Executive and Board Chair, Matthew Kissner,
appointed Interim CEO
- Wiley to reschedule its planned October 12 Investor Day for a
later date to be determined
Wiley (NYSE: WLY and WLYB), a global knowledge company and a
leader in research, publishing, and knowledge solutions announced
today the departure of Brian Napack as President and Chief
Executive Officer and the appointment of Matthew Kissner as Interim
CEO, effective immediately. Mr. Kissner previously served as
Wiley’s Group Executive and Board Chair, as well as Interim CEO
from May to December 2017. Wiley will be rescheduling its planned
October 12 Investor Day for a later date to be determined.
In June, Mr. Napack and Wiley’s executive leadership announced a
value creation plan that includes intensifying focus on Wiley’s
strongest and most profitable businesses, divesting non-core
assets, and rightsizing and streamlining the Company. Mr. Kissner
will leverage his in-depth knowledge of Wiley’s operations and his
professional experience to execute this plan and ensure a smooth
transition. As previously disclosed, Fiscal 2024 is a transition
year for the Company with the benefits of the value creation plan
expected to be realized in fiscal year 2025 and 2026.
“A highly experienced C-level executive and Wiley veteran, Matt
brings a deep understanding of Wiley’s markets, operations, and
people,” said Jesse Wiley, Board Chair. “He is well-positioned to
hit the ground running as we advance our plans to materially
improve profitability and performance and drive consistent growth
in the years to come.”
“I’m confident in the recent portfolio decisions the Company has
made and the intensified focus on Wiley’s core businesses,” said
Mr. Kissner. “Wiley is in a great position as a market leader in
Research with strong competitive moats, including must have journal
brands, platforms and audience networks, along with a strong
balance sheet and solid cash flow. We have strong confidence in our
market and our strategies. I look forward to working closely with
the leadership team and Board of Directors to drive execution and
ensure a seamless transition.”
Mr. Wiley concluded: “In addition to execution of the value
creation plan, a critical goal of the Board of Directors and of
Matt will be to develop the next generation of leadership at Wiley.
The Board thanks Brian for his six years of contributions and hard
work. He and Wiley’s leadership team led the Company during a
period of rapid change and market disruption including the
pandemic. As a result, Wiley is now a more focused company poised
for great success.”
More information can be found at investors.wiley.com.
ABOUT WILEY
Wiley is a knowledge company and a global leader in research,
publishing, and knowledge solutions. Dedicated to the creation and
application of knowledge, Wiley serves the world’s researchers,
learners, innovators, and leaders, helping them achieve their goals
and solve the world's most important challenges. For more than two
centuries, Wiley has been delivering on its timeless mission to
unlock human potential. Visit us at Wiley.com. Follow us on
Facebook, Twitter, LinkedIn and Instagram.
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version on businesswire.com: https://www.businesswire.com/news/home/20231010209134/en/
Investors Brian Campbell brian.campbell@wiley.com
201.748.6874
Media Shari Hofer shofer@wiley.com 201.240.4188
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