Business

Succession drama grips Scholastic: CEO’s sudden death, an office romance and a surprise will

The longtime head of Scholastic Corp.
SCHL,
+1.52%
,
M. Richard Robinson Jr., died all of a sudden in June on a stroll in Martha’s Winery. He left behind a stunning succession plan.

He didn’t give management of the $1.2 billion writer to both of his two sons, or his siblings, or his ex-wife, with whom he had rekindled a friendship in the course of the pandemic. As an alternative, management went to Iole Lucchese, Scholastic’s chief technique officer. She additionally inherited all his private possessions.

Within the 2018 will, a replica of which was reviewed by The Wall Avenue Journal, Mr. Robinson described Ms. Lucchese, a 30-year firm veteran, as “my accomplice and closest pal.” Ms. Lucchese and Mr. Robinson had been longtime romantic companions, based on interviews with members of the family and former workers.

Ms. Lucchese’s sudden emergence as Scholastic’s inheritor has set in movement a household succession drama on the century-old firm — it is likely one of the world’s largest publishers of kids’s books, from the “Harry Potter” novels to the “Magic College Bus” collection — and raised questions on its future as an unbiased concern.

An expanded version of this article appears on WSJ.com.

Standard tales from WSJ.com:

https://www.marketwatch.com/story/succession-drama-grips-scholastic-ceos-sudden-death-an-office-romance-and-a-surprise-will-11627927949?rss=1&siteid=rss | Succession drama grips Scholastic: CEO’s sudden dying, an workplace romance and a shock will

Apkdownload

Inter Reviewed is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@interreviewed.com. The content will be deleted within 24 hours.

Related Articles

Back to top button