NEW YORK - Scholastic (NASDAQ:SCHL) Corporation (NASDAQ: SCHL), a prominent publisher and distributor of children's books and educational materials, has expanded its board of directors to eleven members, announcing the appointment of Alix Guerrier and Kaya Henderson as independent directors, effective Monday.
Guerrier, the current CEO of DonorsChoose, brings over two decades of experience in the education sector to the board. His background includes roles as a teacher, educational technology entrepreneur, and leadership positions at GlobalGiving and LearnZillion. Guerrier's educational qualifications include an AB in Physics from Harvard University and a Master's in Education as well as an MBA from Stanford University.
Henderson comes to Scholastic with a rich history in education, including her current role as CEO of Reconstruction US, a company providing K-12 supplemental curricula.
Her career has spanned various leadership positions, including Chancellor of the District of Columbia Public Schools, where she oversaw significant improvements in student performance and satisfaction. Henderson holds a Bachelor of Science degree in Foreign Service, a Master of Arts in Leadership, and honorary doctorates from Georgetown University and Trinity Washington University.
The appointments follow Scholastic's strategy to support the personal and intellectual growth of children, with a focus on reading and literacy. The company, which has operations in over 135 countries, is known for its role in providing books and educational resources to schools, families, and children around the world.
The information is based on a press release statement from the company.
InvestingPro Insights
As Scholastic Corporation (NASDAQ: SCHL) welcomes new board members with strong backgrounds in education, it's worth noting that the company's financial health and shareholder value are also points of interest. According to InvestingPro, Scholastic holds more cash than debt on its balance sheet, which is a positive sign of the company's liquidity and financial stability. This is particularly relevant as the company continues to invest in its strategic initiatives to foster reading and literacy.
InvestingPro data shows that Scholastic has a market capitalization of approximately $1.12 billion, demonstrating its substantial presence in the publishing industry. The company's Price to Earnings (P/E) ratio stands at 20.28, with an adjusted P/E ratio for the last twelve months as of Q2 2024 at 19.25. This suggests that investors are willing to pay a higher price for Scholastic's earnings, possibly reflecting optimism about the company's future growth.
Moreover, Scholastic boasts a Gross Profit Margin of 54.66% for the same period, which indicates that the company is effective in managing its production costs and maintaining profitability. This is crucial for Scholastic as it adapts to the evolving educational landscape and invests in new products and services.
InvestingPro Tips highlight that Scholastic has been proactive in returning value to shareholders, as evidenced by its high shareholder yield and the fact that it has maintained dividend payments for 17 consecutive years. For investors looking for additional insights, there are more InvestingPro Tips available, including analysis on the company's profitability and cash flow management. To explore these further, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. There are 7 additional InvestingPro Tips listed for Scholastic, offering a comprehensive look at the company's financial and operational performance.
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