Why John Wiley & Sons Stock Dropped 12% This Week

Shares of John Wiley & Sons (NYSE: JW.A) are down 12% this week as of Friday's close, according to data provided by S&P Global Market Intelligence, after the publishing company announced the departure of its CEO and rescheduled its planned investor day presentation.

In a press release Tuesday, Wiley announced the departure of Brian Napack as president and CEO, effective immediately, and named previous Board Chairman Matthew Kissner as interim CEO. Wiley also said it would reschedule its previously planned Oct. 12 Investor Day, with a later date to be determined.

Board Chairman Jesse Wiley thanked Brian Napack for his contributions as CEO over the past six years, noting he led the business "during a period of rapid change and market disruption during the pandemic."

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Source Fool.com