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McGraw-Hill Cos. (MHP), the finance and publishing company that’s splitting in two, named Patrick Milano to the new positions of chief financial officer and chief administrative officer of McGraw-Hill Education.
Robert Bahash, president of the education unit, is retiring, the New York-based company also said today in a statement.
The management changes are the next step in the process of establishing a stand-alone education business, and the search for a chief executive officer for that entity is entering its “final phase,” the company said. McGraw-Hill said Sept. 12 that it will break in two by the end of this year, with one company focused on financial information and the other on educational publishing.
McGraw-Hill Financial will include the Standard & Poor’s ratings service, S&P Indices, Platts energy information services and J.D. Power & Associates.
McGraw-Hill dropped (MHP) 1.5 percent to $46.57 at the close in New York. The shares have gained 3.6 percent this year.
To contact the reporter on this story: Lisa Wolfson at lwolfson@bloomberg
To contact the editor responsible for this story: Lisa Wolfson at lwolfson@bloomberg