NEW YORK, June 8, 2012 /PRNewswire-FirstCall/ -- The McGraw-Hill Companies (NYSE: MHP) today announced the appointment of Lloyd G. "Buzz" Waterhouse as President and Chief Executive Officer of McGraw-Hill Education, effective June 14. Mr. Waterhouse, a former Chief Executive Officer of Harcourt Education, had a distinguished 26 year career at IBM where he was General Manager of E-Business Services and President, Asia Pacific Services Corporation. Mr. Waterhouse will report to Harold McGraw III, Chairman, President and Chief Executive Officer of The McGraw-Hill Companies, as the process continues to establish McGraw-Hill Education as an independent, digital learning and education services company later this year.
"Buzz is a superb choice to lead the world-class franchise we've built in McGraw-Hill Education," said Mr. McGraw. "Buzz's exceptional record of leadership, his qualifications in the education sector, substantial international credentials, significant experience in new technologies and strong operating skills make him an excellent choice to lead McGraw-Hill Education in the new era of global digital learning. McGraw-Hill Education is a leader in the new adaptive and personalized digital platforms that better engage and excite students to deliver improved educational outcomes. Buzz will lead an outstanding team of talented educators and leaders dedicated to student learning, including a very strong bench of Presidents of the individual business units."
"I look forward to working closely with my new colleagues to improve education outcomes and to build on the impressive portfolio of innovative services McGraw-Hill Education has developed," said Mr. Waterhouse. "My lifetime commitment to learning and to technology convinces me that it's time to accelerate the transformation to digital education so that students, teachers and administrators can reach their real potential and improve learning for all students everywhere in the world. This is a unique chance to lead thousands of wonderful people committed to providing interactive and personalized learning experiences that have already been demonstrated to significantly improve education outcomes."
Mr. Waterhouse, 60, began his career with IBM in 1973 in the firm's software division. He later became General Manager of Marketing and Services for IBM Asia Pacific, a $9 billion business. In 1992, he was appointed President of IBM's Asia Pacific Services Corporation and later became Director of Global Strategy at IBM. In 1996, Mr. Waterhouse was named General Manager Marketing and Business Development, IBM Global Services, before being promoted to General Manager, E-Business Services, a division focused on consulting, education and training for customers.
In 1999, Mr. Waterhouse became President and Chief Operating Officer, and later Chief Executive Officer, of Reynolds & Reynolds, a company primarily focused on software for the automotive industry. In 2006, he was appointed Chief Executive Officer of Harcourt Education, a leader in the United States School Education sector. The parent company of Harcourt Education decided to sell the business in 2007 and it merged with Houghton Mifflin Harcourt at the end of that year. Mr. Waterhouse has since served as a director of a number of companies including SolarWinds, ITT Educational Services and Ascend Learning.
Mr. Waterhouse holds a bachelor's degree in Finance from Pennsylvania State University and an MBA from Youngstown State University.
About The McGraw-Hill Companies:
McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.
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Release Issued: June 8, 2012
Vice President, Investor Relations
SOURCE The McGraw-Hill Companies