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McGraw-Hill to announce global education CEO in 2-3 weeks

Source : REUTERS
Last Updated: Wed, Mar 21, 2012 16:21 hrs

By Nandita Bose

MUMBAI (Reuters) - McGraw-Hill Companies Inc , the New York-based parent of credit rating agency Standard & Poor's, will appoint a new CEO for its global education business within a month, its chief executive told Reuters on Wednesday.

"We have a name and it's an exciting name. My guess is that probably in the next 2-3 weeks," Terry McGraw, a great-grandson of the founder said.

The company, which will split into McGraw-Hill Financial and McGraw-Hill Education, has been on the lookout for a CEO to run its education business ever since the announcement. Terry McGraw heads the financial business.

McGraw-Hill has a presence in India through Standard & Poor's Ratings Services, CRISIL, McGraw-Hill Education, J.D. Power Associates and Platts, among others.

The company expects digital learning content to grow at a higher double-digit rate in India and drive the growth of its education business here, Mcgraw said.

McGraw-Hill plans to push for learning programmes related to vocational training online and is working on making more learning material and textbooks available across various digital platforms.

"The growth outlook is really quite healthy for the education business and we expect that to continue," McGraw said.

Globally, however, the education segment has been under stress but has recently seen a better performance in higher education help offset low spending for elementary and high school textbooks.

The company is also looking to strike joint ventures with Indian companies to impart skills learning in India, McGraw said.

In China, it has a joint venture New Oriental to provide skills training.

McGraw also said the environment for its global ratings business had started showing signs of improvement.

"The debt crisis isn't over... From the credit ratings standpoint, we look at pipelines and the pipelines are filling up," Terry McGraw told Reuters.

(Editing by Rajesh Pandathil)



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