Operating Segments
The Company categorizes its businesses into four operating segments: Children’s Book Publishing and Distribution; Educational Publishing; Media, Licensing and Advertising (which collectively represent the Company’s domestic operations); and International . This classification reflects the nature of products and services consistent with the method by which the Company’s chief operating decision-maker assesses operating performance and allocates resources. Revenues and operating margin related to a segment’s products sold or services rendered through another segment are reallocated to the segment originating the products or services. The following table sets forth revenues by operating segment for the three fiscal years ended May 31:
| (Amounts in millions) | ||||||||
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|
|
|
|
|
||||
| 2006 | 2005 | 2004 | ||||||
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|
|
|
|
|
||||
| Children’s Book Publishing | ||||||||
| and Distribution |
$
|
1,304.0 |
$
|
1,152.5 | $ | 1,358.6 | ||
| Educational Publishing | 416.1 | 404.6 | 369.1 | |||||
| Media, Licensing and Advertising | 151.6 | 133.1 | 136.4 | |||||
| International | 412.1 | 389.7 | 369.7 | |||||
|
|
|
|
|
|
|
|
||
| Total |
$
|
2,283.8 |
$
|
2,079.9 | $ | 2,233.8 | ||
|
|
|
|
|
|
|
|
||
Additional financial information covering the Company’s operating segments is included in Note 2 of Notes to Consolidated Financial Statements in Item 8, “Consolidated Financial Statements and Supplementary Data,” which is included herein.
C H I L D R E N ’ S B O O K P U B L I S H I N G A N D D I S T R I B U T I O N (57.1% of fiscal 2006 revenues)
General
The Company’s Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books in the United States through school-based book clubs and book fairs, school-based and direct-to-home continuity programs and the trade channel.
The Company is the world’s largest publisher and distributor of children’s books and is the largest operator of school-based book clubs and school-based book fairs in the United States. The Company is also a leading publisher of children’s books distributed through the trade channel and the leading distributor in the United States of children’s books through direct-to-home continuity programs primarily for children ages five and younger. In fiscal 2006, the Company distributed approximately 400 million children’s books in the United States.
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Scholastic offers a broad range of children’s books. Many of the Company’s books have received awards for excellence in children’s literature, including the Caldecott and Newbery Awards.
The Company obtains titles for sale through its distribution channels from three principal sources. The first source for titles is the Company’s publication of books created under exclusive agreements with authors, illustrators, book packagers or other media companies. Scholastic generally controls the exclusive rights to sell these titles through all channels of distribution in the United States and, to a lesser extent, internationally. Scholastic’s second source of titles is licenses to publish books exclusively in specified channels of distribution, including reprints of books originally published by others for which the Company acquires rights to sell in the school market and original publications for exclusive sale in direct-to-home continuity programs. The third source of titles is the Company’s purchase of finished books from other publishers to be sold in the school market.
School-Based Book Clubs
Scholastic founded its first school-based book club in 1948. The Company’s core school-based book clubs consist of Honeybee ® , serving children ages 1½ to 4; Firefly ® , serving pre-kindergarten (“pre-K”) and kindergarten (“K”) students; SeeSaw ® , serving students grades K to 1; Lucky ® , serving students grades 2 to 3; Arrow ® , serving students grades 4 to 6; TAB ® , serving students grades 7 to 12; and Club Leo™ , which provides Spanish language offers to students pre-K to grade 8. In fiscal 2006, the Company announced that it would offer only these core clubs and would no longer offer two of its smaller clubs, Trumpet ® and Troll ® /Carnival ® . In addition to its regular offers, the Company creates special theme-based offers targeted to different grade levels during the year.
The Company mails promotional materials containing order forms to teachers in the vast majority of the pre-K to grade 8 classrooms in the United States. Teachers who wish to participate in a school-based book club distribute the order forms to their students, who may choose from 80 or more selections at substantial reductions from list prices. The teacher aggregates the students’ orders and forwards them to the Company by internet, phone, mail or fax. In fiscal 2006, orders through the internet accounted for approximately 45% of total book club orders. The orders are then shipped to the teacher for distribution to the students. Teachers who participate in the book clubs receive bonus points, which may be redeemed for the purchase of additional books and other resource materials for their classrooms or the school.
School-Based Book Fairs
Scholastic entered the school-based book fair business in 1981. Since that date, the Company has grown this business by expanding into new markets, including through selected acquisitions, and by increasing its business in its existing markets by (i) growing revenue on a per fair basis, and (ii) increasing the number of fairs held at its existing school customers. The Company is the leading operator of school-based book fairs in the United States.
Book fairs are generally week-long events conducted on school premises, operated by school librarians and/or parent-teacher organizations. Book fair events provide children with access to hundreds of titles and allow them to purchase books and other select products at the school. Although the Company provides the school with the books and book display cases, the school itself conducts the book fair as a fundraiser for a variety of purposes, such as to purchase books, supplies and equipment for the school. The Company believes that a primary motivation for schools sponsoring fairs is to make quality books available to their students at reasonable prices in order to stimulate interest in reading.
The Company operates school-based book fairs in all 50 states under the name Scholastic Book Fairs ® . Books and display cases are delivered to schools from the Company’s warehouses principally by a fleet of leased vehicles. Sales and customer service functions are performed from regional sales offices supported by field representatives. Over 90% of the schools that
2
sponsored a Scholastic book fair in fiscal 2005 sponsored a Scholastic book fair again in fiscal 2006.
Continuity Programs
The Company operates continuity programs whereby families generally place an order to receive multiple shipments of children’s books over a period of time. Continuity programs are promoted through (i) direct-to-home offers, primarily through direct mail, on-line advertisements, telemarketing, print promotions and the internet, and (ii) offers in the Company’s school-based book clubs. The Company’s direct-to-home continuity business is the leading direct-to-home seller of books for children age five and under. In fiscal 2006, the Company’s direct-to-home continuity business included Scholastic publishing properties, such as The New Book of Knowledge ® encyclopedia, My First Steps to Reading ® and Scholastic’s Phonics Reading Program , as well as licensed programs, such as Disney Book Club™ , Dr. Seuss™ Beginning Readers Program, Nick Jr.™ Book Club and Veggie Tales™ . Continuity programs offered through Scholastic’s school-based book clubs include Spy University™, Nick Zone™, How to Survive, Care Bears ® , Thomas and Friends™ and Clifford The Big Red Dog ® .
Trade
Scholastic is a leading publisher of children’s books sold through bookstores and mass merchandisers in the United States. The Company maintains approximately 6,000 titles for trade distribution. Scholastic’s original publications include Harry Potter ® , I Spy™, Clifford The Big Red Dog , Captain Underpants ® , Geronimo Stilton ® and Goosebumps ® and licensed properties such as Scooby-Doo ® , Star Wars ® , Lego™, Care Bears and Taggies ® . In addition, the Company’s Klutz ® imprint is a publisher and creator of “books plus” products for children, including titles such as How to Make Paper Airplanes .
The Company’s trade sales organization focuses on marketing and selling Scholastic’s publishing properties to bookstores, mass merchandisers, specialty sales outlets and other book retailers. Scholastic bestsellers during fiscal 2006 included books from the Harry Potter, I Spy, Taggies, How Do Dinosaurs™ and Charlie Bone™ series and individual titles, such as Inkspell, Over the Hedge and Read and Learn Bible .
Other
Also included in this segment is The Book People, a direct seller of children’s and adult books to offices and other point of sale locations through display marketing and corporate book fairs.
E D U C A T I O N A L P U B L I S H I N G
(18.2% of fiscal 2006 revenues)
General
The Company’s Educational Publishing segment includes the production and/or publication and distribution to schools and libraries of educational technology products, curriculum materials, children’s books, classroom magazines and print and on-line reference and non-fiction products for grades pre-K to 12 in the United States.
The Company is a leading provider of educational technology products and reading materials for schools and libraries. Scholastic has been providing quality, innovative educational materials to schools and libraries since it began publishing classroom magazines in the 1920s. The Company added supplementary books and texts to its product line in the 1960s, professional books for teachers in the 1980s and early childhood products and core curriculum materials in the 1990s. In 1996, the Company strengthened its Spanish language offerings through the acquisition of Lectorum Publications, Inc., the largest Spanish language book distributor to schools and libraries in the United States. As a result of the acquisition of Grolier Incorporated (“Grolier”) in 2000, the Company is the leading print and on-line publisher of children’s reference and non-fiction products sold primarily to school libraries in the United States. In 2002, the Company acquired Tom Snyder Productions, Inc., a developer and publisher of interactive educational software. The Company markets and sells its Educational Publishing products through a
3
combination of field representatives, direct mail, telemarketing and the internet.
Curriculum Publishing and Teaching Resources
Scholastic’s curriculum publishing and teaching resources operations develop and distribute instructional materials directly to schools in the United States, primarily purchased through school and district budgets. These operations also include reading improvement programs and educational technology products, paperback collections for classroom libraries and professional books.
The Company focuses its supplemental and core curriculum publishing efforts on reading improvement materials and the effective use of technology to support learning. Scholastic’s technology-based reading improvement programs include READ 180 ® , a reading intervention program for students in grades 4 to 12 reading at least two years below grade level, SCHOLASTIC ZIP ZOOM™ for grades K to 3, which supports beginning reading skills for English language learners, ReadAbout ® for grades 3 to 6, which combines adaptive technology with engaging non-fiction content, and Scholastic Reading Counts!™ , which encourages reading through a school-managed incentive program. In fiscal 2006, Scholastic introduced the upgraded READ 180 Enterprise Edition, which supports larger installations in schools and provides improved student data management, and launched FASTT Math™ , a technology-based program to improve math fluency, developed with the creator of READ 180 .
The teaching resources group publishes professional books designed for and generally purchased by teachers and distributes paperback collections to schools and school districts for classroom libraries and other uses, as well as to literacy organizations. The Company operates an on-line Teacher Store, which provides professional books and other educational materials to schools and teachers, and www.scholastic.com is a leading website for teachers and classrooms, offering multimedia teaching units, lesson plans, teaching tools and on-line activities.
Classroom Magazines
Scholastic is a leading publisher of classroom magazines. Teachers in grades pre-K to 12 use these magazines as supplementary educational materials. The Company’s 31 classroom magazines supplement formal learning programs by bringing subjects of current interest into the classroom. The magazines are designed to encourage students to read and also to cover diverse subjects, including literature, math, science, current events, social studies and foreign languages. The most well known of the Company’s domestic magazines are Scholastic News ® , Junior Scholastic ® and Let’s Find Out ® .
Scholastic’s classroom magazine circulation in the United States in fiscal 2006 was more than 8.2 million, with approximately two-thirds of the circulation in grades pre-K to 6. In fiscal 2006, teachers in approximately 65% of the schools in the United States used the Company’s classroom magazines. The various classroom magazines are distributed either on a weekly, biweekly or monthly basis during the school year and are supplemented by timely materials featured on www.scholastic.com.
The majority of the magazines purchased are paid for with school or district funds, with teachers or students paying for the balance. Circulation revenue accounted for substantially all of the classroom magazine revenues in fiscal 2006.
Library Publishing
Scholastic is a leading publisher of quality children’s reference and non-fiction products and encyclopedias sold primarily to schools and libraries in the United States. Products include Grolier Online ® , which provides subscriptions to reference databases for schools and libraries, Encyclopedia Americana ® and The New Book of Knowledge , as well as reference materials published under the Grolier ® name. The Company’s products also include non-fiction books published in the United States under the imprints Children’s Press ® and Franklin Watts ® , including books from the America the Beautiful, Enchantment of the World and True Books series.
4
M E D I A , L I C E N S I N G A N D A D V E R T I S I N G
(6.7% of fiscal 2006 revenues)
General
The Company’s Media, Licensing and Advertising segment includes the production and/or distribution of media and electronic products and programs (including children’s television programming, videos, DVD’s, software, feature films, interactive programs, promotional activities and non-book merchandise); and advertising revenue, including sponsorship programs.
Production and Distribution
Through Scholastic Entertainment Inc. (“SEI”), Soup2Nuts Inc. (“S2N”) and the Weston Woods Studio, the Company creates and produces television programming, videos, DVD’s, feature films, and branded websites. SEI builds consumer awareness and value for the Company’s franchises by creating family-focused shows that form the basis for global branding campaigns. SEI generates revenue by exploiting these assets globally across multiple media formats and by developing and executing brand-marketing campaigns.
SEI has built a television library of over 400 half-hour productions, including: Clifford The Big Red Dog , Clifford’s Puppy Days™, Maya & Miguel™, The Magic School Bus ® , I Spy, Goosebumps, Animorphs ® , Dear America ® and The Baby-sitters Club ® . These series have been sold in the United States and internationally in various media formats. SEI has produced 39 episodes of Clifford’s Puppy Days , an animated spin-off of the award-winning Clifford The Big Red Dog series, 14 of which were completed in fiscal 2006. SEI has also produced 65 episodes of an original animated series, Maya & Miguel , 30 of which were completed in fiscal 2006. In fiscal 2004, SEI produced Clifford’s Really Big Movie , a feature length film. In May 2006, the Company announced that it would be participating in a new children’s programming network featuring bilingual content, with a mission to promote literacy and values in children’s television.
S2N, an award-winning producer of animated television and web programming, has produced over 100 half-hour episodes of television programming, including the animated series O’Grady™ and Time Warp Trio .
Weston Woods Studios creates audiovisual adaptations of classic children’s picture books, such as Where the Wild Things Are, Chrysanthemum and Make Way for Ducklings , that are initially produced for the school and library market as a supplemental educational resource. SEI has repackaged 35 titles for sale to the consumer market under the Scholastic Video Collection banner. Weston Woods Studios has received numerous awards, including five Andrew Carnegie Medals for Excellence in Children’s Video and an Academy Award nomination.
Brand Marketing and Consumer Products
SEI creates and develops award-winning global branding campaigns for Scholastic properties in order to extend and strengthen Scholastic’s consumer connection with parents, children and teachers.
In addition to licensing rights for consumer products, SEI designs, manufactures and distributes consumer products primarily based on Scholastic’s literary properties, such as a line of upscale plush toys and wooden puzzles based on Clifford The Big Red Dog, The Magic School Bus, The Real Mother Goose ® , Maya & Miguel, Kim Parker Kids™, No David!™, Fergus™ and Dear Mrs. LaRue™ . The products are available through independent toy/gift stores, specialty chains, department stores, mail order catalogs and bookstores, as well as through Scholastic’s school-based book clubs, school-based book fairs and continuity programs.
5
Consumer Software
Scholastic distributes original and licensed consumer software, handheld and console products and accessories and DVD’s for grades K to 8 through its school-based software clubs, book clubs, book fairs and continuity programs, as well as the library/teacher market and the trade market. The Company acquires software and multi-media products for distribution in all of these channels through a combination of licensing, purchases of product from software publishers and internal development. The Company’s CD-ROM titles include the award-winning series I Spy, Clifford and Math Missions ® . The Company and Fisher-Price have jointly developed interactive educational products that were launched in the fall of 2005, including the Read with Me DVD! learning system.
Advertising
Certain of the Company’s magazine properties generate advertising revenues as their primary source of revenue, including Instructor ® , Scholastic Administrator™, Instructor New Teacher™, Scholastic Early Childhood Today™ and Coach and Athletic Director™ , which are directed to teachers and education professionals and are distributed during the academic year. Subscriptions for these magazines are solicited primarily by direct mail, with total circulation of approximately 450,000 in fiscal 2006. Scholastic Parent and Child ® magazine, which is directed at parents and distributed through schools and childcare programs, had circulation of approximately 1.2 million in fiscal 2006. These magazines carry paid advertising, advertising for Scholastic products and paid advertising for clients that sponsor customized programs.
Other
Also included in this segment are: Scholastic In-School Marketing, which develops sponsored educational materials and supplementary classroom programs in partnership with corporations, government agencies and nonprofit organizations; Back to Basics Toys ® , a direct-to-home catalog business specializing in children’s toys; and Quality Education Data, which develops and markets databases and provides research and analysis focused on teachers, schools and education.
I N T E R N A T I O N A L
(18.0% of fiscal 2006 revenues)
General
The International segment includes the publication and distribution of products and services outside the United States by the Company’s international operations, and its export and foreign rights businesses.
Scholastic has long-established operations in Canada, the United Kingdom, Australia, New Zealand and Southeast Asia and also has newer operations in Argentina, China, India, Ireland and Mexico. Scholastic’s operations in Canada, the United Kingdom and Australia generally mirror its United States business model. Each of these international operations has original trade and educational publishing programs, distributes children’s books, software and other materials through school-based book clubs, school-based book fairs, trade channels and direct-to-home continuity programs, distributes magazines and offers on-line services. Each of these operations has also established its own export and foreign rights licensing programs and is a book publishing licensee for major media properties. Original books published by each of these operations have received awards of excellence in children’s literature. In Southeast Asia, the Company primarily publishes and distributes reference products and provides services under the Grolier name.
Canada
Scholastic Canada, founded in 1957, is a leading publisher and distributor of English and French language children’s books, is the largest school-based book club and school-based book fair operator in Canada and is one of the leading suppliers of original
6
or licensed children’s books to the Canadian trade market. Since 1965, Scholastic Canada has produced quality Canadian-authored books and educational materials. In 2006, Scholastic Canada launched a new Canadian-authored reading program, Literacy Place™ for the Early Years , for grades K to 3. Grolier Canada is a leading operator of direct-to-home continuity programs in Canada.
United Kingdom
Scholastic UK, founded in 1964, is the largest school-based book club and school-based book fair operator and a leading children’s publisher in the United Kingdom. Scholastic UK also publishes magazines for teachers and supplemental educational materials, including professional books. Grolier UK is a leading operator of direct-to-home continuity programs in the United Kingdom.
Australia
Scholastic Australia, founded in 1968, is the leading publisher and distributor of children’s educational materials in Australia and has the largest school-based book club and book fair operation in the country, reaching approximately 90% of the country’s primary schools. Scholastic Australia publishes quality children’s books supplying the Australian trade market. Scholastic Australia also operates direct-to-home continuity programs.
New Zealand
Scholastic New Zealand, founded in 1964, is the largest children’s book publisher and the leading book distributor to schools in New Zealand. Through its school-based book clubs and book fairs, Scholastic New Zealand reaches approximately 90% of the country’s primary schools.
Asia
The Company’s Asia operations primarily sell English language reference materials and local language products through a network of over 1,500 independent door-to-door sales representatives in India, Indonesia, Malaysia, the Philippines, Singapore, Taiwan and Thailand. In India, the Company also operates school-based book clubs and book fairs and publishes original titles in the English and Hindi languages. In the Philippines, the Company also operates school-based book fairs, and in Malaysia, the Company operates school-based book clubs and continuity programs.
Latin America
In Latin America, the Company has operations in Mexico, Argentina and Puerto Rico. These businesses principally distribute books and educational material published by Scholastic, as well as merchandise from other publishers, through school-based book clubs and book fairs. In Puerto Rico, Scholastic also distributes Spanish language reference materials through a network of independent door-to-door sales representatives and sells educational books and software to public and private schools.
Foreign Rights and Export
The Company licenses the rights to selected Scholastic titles for translation in over 40 languages to other publishing companies around the world. The Company’s export business sells educational materials, software and children’s books to schools, libraries, bookstores and other book distributors in over 140 countries that are not otherwise directly serviced by Scholastic subsidiaries. The Company partners with governments and non-governmental agencies to create and distribute books to public schools in developing countries.
M A N U F A C T U R I N G A N D D I S T R I B U T I O N
The Company’s books, magazines, software and other materials and products are manufactured by third parties under contracts entered into through arms-length negotiations or competitive bidding. As appropriate, the Company enters into multi-year agreements that guarantee specified volume in exchange for favorable pricing terms. Paper is purchased from third party sources. The Company does not anticipate any difficulty in continuing to satisfy its manufacturing and paper requirements.
7
In the United States, the Company mainly processes and fulfills school-based book club, trade, curriculum publishing, reference and non-fiction products and export orders from its primary warehouse and distribution facility in Jefferson City, Missouri. Magazine orders are processed at the Jefferson City facility and are shipped directly from printers. The Company’s distribution facility in Maumelle, Arkansas serves as the Company’s primary packaging and fulfillment center for its continuity programs. In connection with its trade business, the Company generally outsources certain services, including invoicing, billing, returns processing and collection services, and also ships product directly from printers to customers. School-based book fair orders are fulfilled through a network of warehouses across the country. The Company’s international school-based book club, school-based book fair, trade, continuity businesses and educational operations use similar distribution systems.
S E A S O N A L I T Y
The Company’s school-based book clubs, school-based book fairs and most of its magazines operate on a school-year basis. Therefore, the Company’s business is highly seasonal. As a result, the Company’s revenues in the first and third quarters of the fiscal year generally are lower than its revenues in the other two fiscal quarters. Typically, school-based book club and book fair revenues are greatest in the second quarter of the fiscal year, while revenues from the sale of instructional materials are the highest in the first quarter. The Company experiences a loss from operations in the first and third quarters of each fiscal year.
C O M P E T I T I O N
The markets for children’s educational and entertainment materials are highly competitive. Competition is based on the quality and range of materials made available, price, promotion, customer service and distribution channels. Competitors include numerous other book, textbook, library, reference material and supplementary text publishers, distributors and other resellers (including over the internet) of children’s books and other educational materials, national publishers of classroom and professional magazines with substantial circulation, numerous producers of television, video and film programming (many of which are substantially larger than the Company), television networks and cable networks, publishers of computer software and distributors of products and services on the internet. In the United States, competitors also include regional and local school-based book fair operators, other fundraising activities in schools, and bookstores. Competition may increase to the extent that other entities enter the market and to the extent that current competitors or new competitors develop and introduce new materials that compete directly with the products distributed by the Company or develop or expand competitive sales channels.
8
C O P Y R I G H T A N D T R A D E M A R K S
SCHOLASTIC is a registered trademark in the United States and in a number of countries where the Company conducts business. Scholastic Inc., the Corporation’s principal operating subsidiary in the United States, has registered and/or has pending applications to register in the United States its trademarks for the names of each of its domestic book clubs, the titles of its magazines and the names of all its curriculum programs. The Corporation’s international subsidiaries have also registered trademarks in the name of Scholastic Inc. for the names of their respective book clubs, magazines and curriculum programs in their respective countries. Although individual book titles are not subject to trademark protection, Scholastic Inc. has registered and/or has pending applications to register trademarks in the United States and in a number of countries for the names of certain series of books and consumer products, such as The Magic School Bus and Clifford The Big Red Dog . GROLIER is a registered trademark in the United States and a number of countries where the Company conducts business. All of the Company’s publications, including books, magazines and software, are subject to copyright protection. Where applicable, the Company consistently files copyright registrations for its products in the name of Scholastic Inc. or one of its subsidiaries. Copyrights and trademarks are vigorously defended by the Company, and as necessary, outside counsel may be retained to assist in such protection.
E M P L O Y E E S
At May 31, 2006, the Company employed approximately 7,100 people in full-time jobs and 900 people in part-time jobs in the United States and approximately 2,400 additional people internationally. The number of part-time employees fluctuates during the year because significant portions of the Company’s business are closely correlated with the school year. The Company believes that relations with its employees are good.
9
Executive Officers
Each of the following individuals serves as an executive officer of Scholastic until the first meeting of the Corporation’s Board of Directors following the Annual Meeting of Stockholders of Scholastic Corporation in September 2006 and until their successors have been elected or appointed and qualified or until such officer’s earlier resignation or removal.
|
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Employed by | ||
| Name |
|
Registrant Since | Position(s) for Past Five Years |
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| Richard Robinson |
|
1962 | Chairman of the Board (since 1982), President (since |
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1974) and Chief Executive Officer (since 1975). | ||
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| Mary A. Winston |
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2004 | Executive Vice President and Chief Financial Officer |
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(since 2004). Prior to joining the Company, Vice President | ||
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and Controller (2003–2004) and Vice President and | ||
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Treasurer (2002–2003) of Visteon Corporation, a global | ||
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automotive supplier; and between 1995 and 2002, various | ||
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senior financial management roles at Pfizer and Warner- | ||
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Lambert, which merged in June 2000, including Vice | ||
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President, Global Financial Operations for the | ||
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pharmaceutical business (2000–2002). | ||
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| Deborah A. Forte |
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1983 | Executive Vice President (since 1996), President, |
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Scholastic Media (since 2006) and Scholastic | ||
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Entertainment Inc. (since 2001) and Division Head, | ||
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Scholastic Entertainment Inc. (1995-2001). | ||
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| Lisa Holton |
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2005 | Executive Vice President and President, Book Fairs and |
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Trade (since 2005). Prior to joining the Company, Senior | ||
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Vice President, Publisher, Global Disney Children’s Books | ||
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(2001-2005), and Vice President and Group Publisher of | ||
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Disney Children’s Books (1999-2001). | ||
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| Margery W. Mayer |
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1990 | Executive Vice President (since 1990), President, |
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Scholastic Education (since 2002) and Executive Vice | ||
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President, Learning Ventures (1998-2002). | ||
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| Judith A. Newman |
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1993 | Executive Vice President and President, Book Clubs and |
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Scholastic At Home (since 2005); Senior Vice President | ||
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and President, Book Clubs and Scholastic At Home (2004- | ||
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2005); and Senior Vice President, Book Clubs (1997- | ||
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2004). |
10
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Employed by | ||
| Name |
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Registrant Since | Position(s) for Past Five Years |
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| Seth Radwell |
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2005 | Executive Vice President and President, e-Scholastic |
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(since 2005). Prior to joining the Company, President, | ||
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Marketing & Editorial Group, Bookspan (2002-2005); and | ||
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Chief Executive Officer and President, Doubleday | ||
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Interactive (1999-2001). | ||
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| Hugh Roome |
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1991 | Executive Vice President (since 1996), President, |
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International Group (since 2001) and Executive Vice | ||
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