McGraw-Hill, the parent company of Standard & Poor's, will separate the publishing and markets sector into two separate companies and is accelerating its buy-back plan which provides for the repurchase of treasury shares for 1 billion dollars.
Harold McGraw III, current group president, will be president and chief executive officer of McGraw Hill Markets, the division expected to have $4 billion in revenue for the year 2011. McGraw-Hill Education will instead be the second major company active in the sector of education, with $2,4 billion expected this year. “The analyzes we have conducted – explained McGraw – have identified the creation of these two independent companies as the most efficient solution to reduce costs and increase profits”.
