David Levin will begin his tenure as president and CEO of McGraw-Hill Education effective April, 2014. From today's announcement:
McGraw-Hill Education today announced the appointment of David Levin as the company's president and chief executive officer. Mr. Levin, 51, is currently the chief executive of UBM, a multinational media company headquartered in London, and brings a wealth of experience in leading public and private companies in the fields of media and technology. He will be based in New York City and succeed Lloyd G. "Buzz" Waterhouse, who joined McGraw-Hill Education as its president and CEO in June 2012 and who recently announced his retirement. Mr. Waterhouse will remain with the company until Mr. Levin begins his tenure in April 2014 and will remain on the company's board of directors after he steps down as CEO.
The appointment of Mr. Levin as CEO comes as McGraw-Hill Education continues its transformation as a leader in digital learning and growth as a standalone, global company. In March 2013, funds affiliated with Apollo Global Management, LLC (NYSE: APO) purchased McGraw-Hill Education from The McGraw-Hill Companies (now McGraw Hill Financial).
"David Levin stood out from the exceptional group of executives identified in our search because of his unique combination of extensive international experience, demonstrated track record leading a digital transformation at UBM, stellar leadership skills, financial acumen and passion for education. It gives me great pleasure to announce his appointment as CEO,"said Larry Berg, senior partner at Apollo Global Management. "We are confident that David will lead the entire McGraw-Hill Education team in accomplishing its shared objective of making the company the leading provider of powerful and innovative digital learning solutions on a global scale."
Mr. Berg added: "I also want to acknowledge the accomplishments of Buzz Waterhouse, who built a solid foundation of operational excellence as he led the company through a complicated corporate carve-out, strengthened management with distinguished hires and helped set the strategic direction for the business."
"David is an exceptional choice to lead McGraw-Hill Education into its next chapter of digital transformation and global growth," said Mr. Waterhouse. "His strong record of leadership, combined with his experience in managing large international technology companies, makes him the ideal candidate to further McGraw-Hill Education's growth domestically and abroad."
Over his nearly nine years leading UBM, Mr. Levin reoriented the company's business mix toward emerging markets while growing its U.S. revenues. Mr. Levin also shifted UBM's business models away from print and toward live events and online communities and renewed the company's culture, fostering an open, collaborative and social environment. Under his leadership, UBM realigned its portfolio through more than 100 acquisitions.
"I'm really excited to be joining McGraw-Hill Education at such a pivotal point for both the company and the education industry," said Mr. Levin. "There is no doubt that the revolution in technology is accelerating and driving companies and business models to evolve. In just a few short years, McGraw-Hill Education has made great strides in its transformation from a textbook publisher to a digital learning solutions company. McGraw Hill Education's mission – to reimagine learning to create a better smarter world - is compelling and the opportunity to make a positive impact on teaching and learning through a clever blending of content, instructional design and technology is huge. This is a unique opportunity to develop a company with a remarkable legacy and to personalize and improve educational outcomes for millions of students all over the world."
The appointment of Mr. Levin as CEO comes as McGraw-Hill Education continues its transformation as a leader in digital learning and growth as a standalone, global company. In the last year, McGraw-Hill Education has investedsignificantly in digital research and development to strengthen its offerings and improve teaching and learning, and opened an R&D center in Boston's innovation district. Through the company's most recent acquisition ofALEKS Corporation,purchase of an equity stake in Danish adaptive learning company Area9, as well as a partnership withIsrael-basedTime to Know, the company is continuing to build its capabilities in adaptive and personalized learning.
Prior to his tenure at UBM, Mr. Levin was chief executive of Symbian Software, a U.K based software group that built the operating system to power the first generation of smartphones. He has also served as chief executive of Psion PLC, a London-based consumer and business technology company, and as chief operating officer and finance director of Euromoney Institutional Investor PLC, one of Europe's largest business and financial magazine publishers. Mr. Levin also served for seven years as a non-executive on the Finance Committee of the Oxford University Press.
Mr. Levin received his bachelor's degree in politics, philosophy and economics from Oxford University and his M.B.A. from Stanford University.