Scholastic To Combine Its Book Fairs And Book Clubs Divisions

(RTTNews) - Media company Scholastic Corp. (SCHL) announced Monday plans to combine its market-leading U.S. Book Fairs and Book Clubs divisions into an integrated school reading events business.

The transition process is expected to be completed and the new organization launched by June, in advance of the 2023/2024 school year.

As part of the current, growth-focused reorganization, Sasha Quinton, President of Scholastic Book Fairs, will lead the integrated school reading events division upon launch.

To further accelerate Scholastic's long-term growth and impact, Judy Newman, previously President of Scholastic Book Clubs, has been named the Company's first Chief Impact Officer. In this role, she will lead Scholastic's efforts to increase access to books and literacy through partnerships with non-profit and other organizations.

A transition planning team is beginning work to finalize the new business model, strategy, metrics for success, and organizational structure for the combined school reading events organization. The Company expects to address the results of the team's work when it reports its year-end results.