SCHOLASTIC CORPORATION (NASDAQ:SCHL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

SCHOLASTIC CORPORATION (NASDAQ:SCHL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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On October27, 2017, the Company’s Board of Directors appointed the Company’s current Senior Vice President, Chief Accounting Officer, Mr.KennethJ. Cleary, age 52, as the Company’s Chief Financial Officer, and also designated Mr.Cleary as the Company’s principal financial officer for SEC reporting purposes, in each case effective on October27, 2017.

Before becoming Senior Vice President, Chief Accounting Officer in September 2014, Mr.Cleary had been the Company’s Vice President, External Reporting and Compliance since joining the Company in May 2008. Prior to joining the Company, Mr.Cleary was the Senior Assistant Controller at Hertz Corporation. He began his career as an auditor for KPMG before working at Sequa Corporation as Manager of Financial Reporting and then at Engelhard Corporation where he was Assistant Controller.

There are no family relationships among Mr.Cleary and any directors or officers of the Company.

There have been no transactions nor are there any proposed transactions between the Company and Mr.Cleary that would require disclosure to Item 404(a) of Regulation S-K.

With Mr.Cleary’s promotion to Chief Financial Officer, Mr.Paul Hukkanen, age 37, Vice President, External Reporting and Compliance has been appointed as Vice President, Chief Accounting Officer. In this capacity, Mr.Hukkanen will serve as the Company’s principal accounting officer.

Mr.Hukkanen joined Scholastic in November 2014 as its Vice President, External Reporting and Compliance. Prior to joining the Company, Mr.Hukkanen worked at Broadridge Financial Solutions, Inc. from December 2011 to November 2014, ultimately in the role of Vice President, Finance. Prior to Broadridge, he was a Senior Manager in the assurance practice of Ernst& Young having held various accounting positions there since 2003.

There are no family relationships among Mr.Hukkanen and any directors or officers of the Company.

There have been no transactions nor are there any proposed transactions between the Company and Mr.Hukkanen that would require disclosure to Item 404(a) of Regulation S-K.


About SCHOLASTIC CORPORATION (NASDAQ:SCHL)

Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International. The Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books, e-books, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel. The Education segment includes publication and distribution to schools and libraries of children’s books, classroom magazines, supplemental classroom materials, and print and online reference and non-fiction products for grades pre-K to 12 in the United States. The International segment includes its international operations, and export and foreign rights businesses.

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