Events and Presentations
CEO Announcement FAQ
Should we read into this as something to do with fourth quarter performance or next year’s projections?
- This news is unrelated to financial performance and/or projections.
- Wiley expects fourth quarter performance to be consistent with the commentary provided in our Q3 earnings release dated March 7, 2017.
- Wiley will provide FY18 guidance on its fourth quarter conference call, scheduled for June 13. The environment remains steady and opportunistic: positive outlook for Research, our largest and most profitable business; strong growth opportunities in Solutions; challenges in Book publishing mitigated by cost improvements; meaningful progress in our operational excellence initiatives; strong free cash flow; exceptional balance sheet; and strong cash return to shareholders.
Can you elaborate more on Mark’s personal or family reasons? Why is this so immediate?
- For the past 14 years, Mark Allin has been commuting back and forth between his home in the UK and other parts of the world, including the US for the past seven years. He wants to spend more time with his family.
- It was in our mutual best interest to start the process as soon as possible, particularly as we enter a new fiscal year and complete the current strategic planning cycle.
Does this change the strategic direction or slow down or stop any initiatives that were being driven by Mark?
- The news is unrelated to strategic direction.
- Wiley’s current initiatives, including the Books review, operational excellence initiative, ERP deployment, and Atypon integration, will continue as is and on the same timeline. Matt Kissner will be working closely with the executive leadership team to execute on the strategy in place.
Given their controlling interest and recent retirements, what are the Wiley family intentions?
- Mark’s decision does not signal a shift in Wiley’s strategic direction or the Wiley family’s interests and intentions; they remain the same.
- The Wiley family continues to be actively engaged and is committed to supporting Wiley’s long term growth and evolution.
- Jesse Wiley, leading member of the seventh generation, is a Board director; Peter Wiley, former Chairman and member of the sixth generation, is a Board observer.
How long do you expect the search to take?
- Given the importance, the Board will be as thorough and diligent as possible while dedicating a significant amount of time to engage fully in seeing this process through.
Fiscal Year 2017 Earnings Dates (Tentative)
Q4 - June 13, 2017
Fiscal Year 2018 Earnings Dates (Tentative)
Q1 - September 7, 2017
Q2 - December 5, 2017
Q3 - March 8, 2018
Q4 - June 14, 2018
CJS Winter Investor Conference
January 14, 2015
Speaker: Steve Smith, President & CEO
White Plains, NY
CJS Presentation (PDF)