McGraw-Hill Cos. (MHP:US) named Lloyd “Buzz” Waterhouse as president and chief executive officer of McGraw- Hill Education, ahead of the parent’s planned split into two companies.
Waterhouse, a former CEO of Harcourt Education, will step into the role on June 14, New York-based McGraw-Hill said today in a statement. The company said last month that Robert Bahash, president of the education business, would retire.
McGraw-Hill, the owner of Standard & Poor’s, is in the process of splitting into two, with one company focused on education and the other on financial information. The division is expected to be completed this year, McGraw-Hill has said.
Waterhouse also spent 26 years at International Business Machines Corp., where he was general manager of E-Business Services.
His experience in education and new technologies will help McGraw-Hill “in the new era of global digital learning,” Harold “Terry” McGraw, the company’s CEO, said in the statement.
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 fell 1.4 percent to $43.17 at 9:54 a.m. in New York.
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