Publisher John Wiley & Sons, Inc., US, has announced that William J. Pesce will be retiring on April 30, 2011, and Stephen M. Smith has been named as the Company's next President and Chief Executive Officer. Smith will become a member of the company's Board of Directors, effective May 1, 2011. The announcement was made by Peter Booth Wiley, Chairman of the Board of Directors of John Wiley & Sons, Inc.
The Board of Directors will recommend Pesce for the slate of Director candidates that will be voted on at the Annual Meeting of Shareholders in September 2011.
Since May 1, 2009, Smith has served as Wiley's Chief Operating Officer, responsible for the leadership of its worldwide publishing businesses. He joined Wiley in 1992 as Vice President, Wiley Asia. In 1995, he was promoted to the new position of Vice President, International Development. He became Senior Vice President, International Development in 1996, when he also assumed corporate responsibility for Wiley Australia. In May 2000, Wiley's Professional/Trade business in Europe was added to his responsibilities. In 2006, Smith became Chief Operating Officer of Wiley's UK business and was appointed Senior Vice President, Wiley Europe in 2007, while continuing his role in Asia and Australia.
Pesce joined Wiley in 1989 as Vice President responsible for the Educational Publishing Group. He led the revitalisation of Wiley's Higher Education business, rebuilding its leadership team and dramatically improving its financial performance. He was promoted to Executive Vice President and Group President, Educational and International Publishing in 1996, accelerating Wiley's development as a global enterprise. He became Chief Operating Officer of the Company in 1997 and President and Chief Executive Officer in 1998, succeeding Charles Ellis, who recruited him to Wiley. During his tenure, Pesce was instrumental in the Company's transformative acquisitions; the launch of innovative online products and new business models; the relocation of Wiley's global headquarters to Hoboken, New Jersey; and the achievement of record-setting financial results.
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