Wiley Announces CFO Transition
Wiley (NYSE: WLY and WLYB) has announced a CFO transition, with Christopher Caridi, Corporate Controller and Chief Accounting Officer, assuming the role of Interim Chief Financial Officer effective September 18, 2024. Caridi succeeds Christina Van Tassell, who will be leaving the company on October 1, 2024. Caridi brings over 35 years of corporate finance experience, including 30 years in the industry.
Wiley recently reported strong revenue and earnings growth for Q1 and reaffirmed its Fiscal 2025 outlook and Fiscal 2026 targets. The company is executing on growth initiatives and value creation activities, with strong leading indicators, employee engagement scores, and financial performance. Wiley has commenced a comprehensive search process to identify a permanent CFO.
Wiley (NYSE: WLY e WLYB) ha annunciato una transizione del CFO, con Christopher Caridi, Corporate Controller e Chief Accounting Officer, che assume il ruolo di CFO ad interim a partire dal 18 settembre 2024. Caridi succede a Christina Van Tassell, che lascerà l'azienda il 1° ottobre 2024. Caridi porta con sé oltre 35 anni di esperienza nella finanza aziendale, di cui 30 anni nell'industria.
Wiley ha recentemente riportato una forte crescita dei ricavi e degli utili per il primo trimestre e ha confermato le sue previsioni per l'anno fiscale 2025 e gli obiettivi per l'anno fiscale 2026. L'azienda sta attuando iniziative di crescita e attività di creazione di valore, con forti indicatori di performance, punteggi di coinvolgimento dei dipendenti e performance finanziaria. Wiley ha avviato un processo di ricerca completo per identificare un CFO permanente.
Wiley (NYSE: WLY y WLYB) ha anunciado una transición de CFO, con Christopher Caridi, Controlador Corporativo y Director de Contabilidad, asumiendo el cargo de CFO interino a partir del 18 de septiembre de 2024. Caridi sucede a Christina Van Tassell, quien dejará la empresa el 1 de octubre de 2024. Caridi aporta más de 35 años de experiencia en finanzas corporativas, incluyendo 30 años en la industria.
Wiley reportó recientemente un fuerte crecimiento en ingresos y ganancias durante el primer trimestre y reafirmó sus perspectivas para el ejercicio fiscal 2025 y los objetivos para el ejercicio fiscal 2026. La empresa está ejecutando iniciativas de crecimiento y actividades de creación de valor, con sólidos indicadores principales, puntuaciones de compromiso del empleado y rendimiento financiero. Wiley ha comenzado un proceso de búsqueda integral para identificar un CFO permanente.
와일리(Wiley)(NYSE: WLY 및 WLYB)는 CFO 전환을 발표했습니다. 크리스토퍼 카리디(Christopher Caridi) 재무 관리자이자 회계 담당 최고 책임자가 2024년 9월 18일부로 임시 CFO 역할을 맡습니다. 카리디는 2024년 10월 1일자로 회사를 떠나는 크리스티나 반 태셀(Christina Van Tassell)을 이어받습니다. 카리디는 35년 이상의 기업 재무 경험을 보유하고 있으며, 이 중 30년을 산업에서 경과했습니다.
와일리는 최근 1분기 강력한 수익 및 이익 성장을 보고하고 2025 회계 연도 전망 및 2026 회계 연도 목표를 재확인했습니다. 이 회사는 성장 이니셔티브 및 가치 창출 활동을 수행하고 있으며, 강력한 선행 지표, 직원 참여 점수 및 재무 성과를 보이고 있습니다. 와일리는 영구 CFO를 찾기 위해 종합적인 검색 프로세스를 시작했습니다.
Wiley (NYSE: WLY et WLYB) a annoncé une transition de CFO, avec Christopher Caridi, Contrôleur d'entreprise et Responsable de la comptabilité, qui assume le rôle de CFO par intérim à partir du 18 septembre 2024. Caridi succède à Christina Van Tassell, qui quittera l'entreprise le 1er octobre 2024. Caridi apporte plus de 35 ans d'expérience en finance d'entreprise, dont 30 ans dans l'industrie.
Wiley a récemment fait état d'une forte croissance des revenus et des bénéfices pour le premier trimestre et a réaffirmé ses perspectives pour l'exercice fiscal 2025 et ses objectifs pour l'exercice fiscal 2026. L'entreprise met en œuvre des initiatives de croissance et des activités de création de valeur, avec des indicateurs avant-coureurs solides, des scores d'engagement des employés et des performances financières. Wiley a lancé un processus de recherche complet pour identifier un CFO permanent.
Wiley (NYSE: WLY und WLYB) hat einen CFO-Wechsel angekündigt. Christopher Caridi, Corporate Controller und Chief Accounting Officer, übernimmt ab dem 18. September 2024 die Rolle des Interim Chief Financial Officer. Caridi folgt auf Christina Van Tassell, die das Unternehmen am 1. Oktober 2024 verlassen wird. Caridi bringt über 35 Jahre Erfahrung im Unternehmensfinanzwesen mit, darunter 30 Jahre in der Branche.
Wiley hat kürzlich ein starkes Umsatz- und Gewinnwachstum für das erste Quartal gemeldet und seine Prognosen für das Geschäftsjahr 2025 sowie die Ziele für das Geschäftsjahr 2026 bestätigt. Das Unternehmen setzt Wachstumsinitiativen und Wertschöpfungsaktivitäten um, unterstützt durch starke Frühindikatoren, Mitarbeitereinbindungswerte und finanzielle Ergebnisse. Wiley hat einen umfassenden Suchprozess eingeleitet, um einen dauerhaften CFO zu identifizieren.
- Strong revenue and earnings growth reported for Q1
- Reaffirmed Fiscal 2025 outlook and Fiscal 2026 targets
- Executing on growth initiatives and value creation activities
- Strong leading indicators and employee engagement scores
- CFO departure may cause temporary leadership instability
Insights
Wiley's CFO transition appears to be a neutral event for investors. The appointment of Christopher Caridi as Interim CFO, given his extensive experience and familiarity with Wiley's operations, suggests continuity in financial leadership. However, the departure of Christina Van Tassell after a relatively short tenure (less than 3 years) might raise questions about internal stability.
The company's recent strong Q1 performance and reaffirmation of fiscal outlooks indicate positive momentum. Wiley's focus on operating efficiency, margin expansion and cash flow growth aligns with investor interests. The mention of reinvestment in core areas and GenAI opportunities signals a forward-looking strategy, potentially positioning Wiley for future growth in high-demand sectors.
Investors should monitor the permanent CFO search and any potential shifts in financial strategy during this transition period. Overall, the company's financial trajectory appears stable, but the executive change warrants attention to ensure continued execution of Wiley's value creation plan.
This CFO transition at Wiley presents a mixed governance picture. On the positive side, the company is demonstrating proactive succession planning by appointing an experienced internal candidate, Christopher Caridi, as Interim CFO. This move leverages institutional knowledge and suggests a robust internal talent pipeline.
However, the relatively short tenure of the outgoing CFO, Christina Van Tassell, could be a potential red flag. Frequent executive turnover can sometimes indicate underlying issues or disagreements on strategy. Investors should seek clarity on the reasons for her departure during the next earnings call.
The board's initiation of a comprehensive search for a permanent CFO is a positive step, showing commitment to finding the best leadership. Wiley's emphasis on value creation activities and growth initiatives during this transition period demonstrates a focus on maintaining strategic continuity, which is important for stakeholder confidence.
- Corporate Controller and Chief Accounting Officer Christopher Caridi named Interim Chief Financial Officer
- CFO Christina Van Tassell to depart the Company on October 1
- Wiley recently reported strong revenue and earnings growth for Q1 and reaffirmed its Fiscal 2025 outlook and Fiscal 2026 targets
Caridi has over 35 years of corporate finance experience with 30 years in the industry. He has served as Wiley’s Corporate Controller and Chief Accounting Officer since 2017, where he built a simplified organization, a highly effective global accounting team, and a highly efficient financial shared services operation. Prior to Wiley, Caridi served in various executive roles at Thomson Reuters, including as Controller and Global Head of Accounting Operations, and Vice President, Finance with global process ownership in Financial Planning & Analysis.
“We continue to see strong performance and profit improvement as we execute on our growth initiatives and value creation activities,” said Matt Kissner, Wiley’s President and CEO. “This momentum is evident in our strong leading indicators, employee engagement scores, and financial performance. Wiley has commenced a comprehensive search process to identify a permanent CFO. In the meantime, Chris Caridi will continue to be a trusted partner of mine and the rest of the leadership team as we drive further operating efficiency, margin expansion, and cash flow growth while reinvesting in our Research and Learning core and GenAI growth opportunities. We are fortunate to have him and a strong finance organization supporting us.”
Kissner continued: “Christina has been a valued member of the leadership team since she joined the Company in November 2021. She helped steer the organization through a period of marked change, notably our divestitures and value creation plan. We expect this to be a seamless transition. On behalf of the Board of Directors and the rest of the Executive Leadership Team, I’d like to thank her for her service and contributions.”
For Wiley’s recent earnings release, presentation, call transcript, and quarterly filing, please see the Company’s Quarterly Results at investors.wiley.com.
About Wiley
Wiley is one of the world’s largest publishers and a trusted leader in research and learning. Our industry-leading content, services, platforms, and knowledge networks are tailored to meet the evolving needs of our customers and partners, including researchers, students, instructors, professionals, institutions, and corporations. We enable knowledge-seekers to transform today’s biggest obstacles into tomorrow’s brightest opportunities. For more than two centuries, Wiley has been delivering on its timeless mission to unlock human potential. Visit us at Wiley.com. Follow us on Facebook, Twitter, LinkedIn and Instagram.
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Investor Contact
Brian Campbell
brian.campbell@wiley.com
(201) 748-6874
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Source: John Wiley and Sons
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