Wiley Announces CEO Transition; Brian Napack To Depart The Company As President And CEO Effective Immediately; Matthew Kissner, Appointed Interim CEO; Wiley To Reschedule Its Planned October 12 Investor Day For A Later Date To Be Determined
Portfolio Pulse from Benzinga Newsdesk
Wiley (NYSE:WLY) announced the immediate departure of its President and CEO, Brian Napack, and the appointment of Matthew Kissner as Interim CEO. Kissner, a former Group Executive and Board Chair, will execute the company's value creation plan, which includes focusing on profitable businesses, divesting non-core assets, and streamlining the company. Wiley's Investor Day, initially planned for October 12, will be rescheduled.
October 10, 2023 | 12:34 pm
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NEUTRAL IMPACT
The sudden CEO transition at Wiley may cause short-term uncertainty among investors. However, the appointment of a seasoned executive like Matthew Kissner could reassure the market. The execution of the value creation plan could potentially improve the company's profitability in the long term.
CEO transitions often lead to short-term uncertainty as investors assess the potential impact on the company's strategy and performance. However, Matthew Kissner's previous experience with Wiley and the ongoing value creation plan could potentially reassure investors and lead to improved profitability in the long term.
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IMPORTANCE 75
RELEVANCE 100