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SAGE Publishing Founder Sara Miller McCune transfers control of SAGE to the SAGE-SMM Trust -

SAGE Publishing founder and owner Sara Miller McCune has signed over her voting shares and control of the company to the independent SAGE-SMM Trust. The move takes an irrevocable step towards her long-standing estate plan goal of ensuring SAGE remains an independent company focused on its mission to build bridges to knowledge through educational and research publishing.

Sara Miller McCune founded SAGE in 1965 with George McCune. Early in the company’s history, Sara and George determined that SAGE should never be bought by another publisher and lose its identity or its ability to focus on its mission rather than shareholders’ or investors’ financial goals.

Together they established an estate plan that will ultimately lead to SAGE’s beneficial owners being a number of higher education institutions but with control vested in the SAGE-SMM Trust. The Trust’s documents state that its “primary purpose … is to maintain SAGE as a successful privately owned educational publishing and information dissemination company, and to provide for the continuity and preservation of its business, activities, policies and corporate identity.” Trustees are given the mandate that “... the Trustees shall at all times administer and exercise voting rights ... in accordance with this primary purpose.”

While this transfer of shares is a key milestone in securing SAGE’s long-term independence, there will not be any changes to SAGE’s mission, business strategy, or the management team as a result.

McCune still holds 80% of the non-voting shares of SAGE and will continue to attend and participate in Board meetings and Board events but plans to devote more of her time to other personal interests.

Click here to read the original press release.

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