x

Posted 28 October, 2021

JOHN WILEY & SONS, INC. appointed Christina Van Tassell as new CEO

NYSE:JW.A appointed new Chief Executive Officer Christina Van Tassell in a 8-K filed on 28 October, 2021.


  On October 25, 2021, the Company appointed Christina Van Tassell as the Company's Executive Vice President and Chief Financial Officer, reporting to President and Chief Executive Officer, Brian A. Napack, effective November 22, 2021.  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of JOHN WILEY & SONS, INC.
Media/Entertainment • Publishing
John Wiley & Sons, Inc. engages in the provision of research and learning materials. It operates through the following segments: Research Publishing and Platforms, Academic and Professional Learning, and Education Services. The Research Publishing and Platforms segment provides scientific, technical, medical, and scholarly journals, as well as related content and services to academic, corporate, and government libraries, learned societies, and individual researchers and other professionals. The Academic and Professional Learning segment provides scientific, professional, and education books in print and digital formats, digital courseware, and test preparation services to libraries, corporations, students, professionals, and researchers, as well as learning, development, and assessment services for businesses and professionals. The Education Services segment consists of online program management services for higher education institutions and mthree training, upskilling and talent placement services for professionals and businesses. The company was founded by Charles Wiley in 1807 and is headquartered in Hoboken, NJ.
Market Cap
$1.81B
View Company Details
JOHN WILEY & SONS, INC. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers


On October 28, 2021, John Wiley & Sons, Inc. (the "Company") announced that John A. Kritzmacher, Executive Vice President and Chief Financial Officer, will be retiring from the Company on December 31, 2021. On October 25, 2021, the Company appointed Christina Van Tassell as the Company's Executive Vice President and Chief Financial Officer, reporting to President and Chief Executive Officer, Brian A. Napack, effective November 22, 2021. Ms. Van Tassell will succeed Mr. Kritzmacher who will step down from his role as of such date but remain with the Company until December 31, 2021 to provide for a well-coordinated transition until his retirement.


Ms. Van Tassell, 51, will join the Company from Dow Jones & Company, Inc. ("Dow Jones") a global news and information company, where she has been Chief Financial Officer since November 2017. Prior to Dow Jones, Ms. Van Tassell was Global Chief Financial Officer at Xaxis, a WPP Company from 2014 to 2017, as well as Global Chief Financial Officer and Partner at Centurion Holdings LLC. Ms. Van Tassell began her career at PricewaterhouseCoopers, holding senior roles in New York, London, and Sweden.


In connection with her appointment, Ms. Van Tassell will receive:


-

A base salary of $650,000.


-

Eligibility to participate in the Company's Executive Annual Incentive Plan, with a target incentive equal to 100% of base salary.


-

Eligibility to participate in annual grants under the Company's Executive Long-Term Incentive Program (ELTIP), with a target long-term incentive equal to 200% of base salary.


-

A cash sign-on bonus of $250,000, half payable in the payroll period 90 days after start date and half payable in the payroll period following the first anniversary of the start date.


-

A one-time grant of restricted share units with a grant value of $1.3 million, payable in Class A shares of the Company stock which will vest 50% on each of the first and second anniversaries of the start date.


-

A grant of 20,000 premium stock options with the same terms and conditions as the Company's other Executive Leadership Team members.


Ms. Van Tassell's employment letter also provides for certain severance and change in control benefits. Pursuant to her employment letter, Ms. Van Tassell is subject to certain confidentiality obligations, and non-compete and non-solicitation covenants. The foregoing description is a summary and is qualified in its entirety by reference to the employment letter, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated in its entirety herein.

A copy of the press release announcing the appointment of Ms. Van Tassell as Executive Vice President and Chief Financial Officer is attached as Exhibit 99.1 to this Current Report on Form 8-K.


In connection with his departure from the Company, Mr. Kritzmacher will receive certain payments and benefits in accordance with the June 26, 2017 Addendum to his Employment Agreement dated as of May 20, 2013.