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HOBOKEN, N.J. (AP) — John Wiley & Sons Inc. said Thursday that it elected Jesse Wiley, the son of the board's chairman and a seventh-generation descendant of the publishing company's founder, to its board.
The Hoboken, N.J.-based company also announced the retirements from the board of Bradford Wiley II and of Warren Baker.
Bradford Wiley has served on the board since 1979 and was its chairman from 1993 to 2002. Baker was named to the board in 1993 and is the president emeritus of California Polytechnic State University at San Luis Obispo.
Board Chairman Peter Booth Wiley said the addition of his son to the board will add a fresh perspective and represents the next generation of the Wiley family in the company's leadership.
Jesse Wiley has been involved in the company's day-to-day operations since 2003 and is currently responsible for digital and new business initiatives within its professional and trade business. He has attended all board and committee meetings as an observer since March 2011, the company said.
Wiley's board currently has 12 members.
Wiley shares fell 49 cents to $46.84 in afternoon trading. Its shares are down 10 percent from their 52-week high of $51.95 set on Sept. 7. They traded as low as $41.89 last October.