Mark Allin became the CEO of John Wiley & Sons Inc (JW.A) in June. He says he had worked closely with former CEO Steve Smith on the company’s divestment and acquisition program.
“We continue on that path and continue to be very ambitious for what we believe we can achieve in the markets in which we are operating,” Allin says. “I don’t see any immediate opportunities for divestment, but we remain very carefully focused on where our investment priorities are. The acquisitions we make are always carefully targeted to meet our strategic aims, and many of them are the result of close relationships that we’ve built up over time.”
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Allin says management is also continuing to look at the cost side of the business, particularly as the company experiences some revenue challenges in areas like books.
“We’re looking now to ensure that we have fully competitive cost benchmarks across the business, which create additional opportunities for margin expansion and free up opportunities for growth,” Allin says. “We are also making a major investment in an ERP deployment to ensure that we have the technology reporting and operational capabilities we need to succeed as a digital business.”
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