Harold W. McGraw, Jr., Chairman Emeritus and Former CEO, The McGraw-Hill Companies, Died at His Home This Morning
(PRESS RELEASE) NEW YORK, March 24, 2010 /PRNewswire via COMTEX/ -- Harold W. McGraw, Jr., who began his career as a book company sales representative in the firm founded by his grandfather, James H. McGraw, and went on to lead McGraw-Hill's rapid growth as a diversified global company through the dawn of the Digital Age, died peacefully at his home this morning at the age of 92.
Mr. McGraw played a major role in creating a highly innovative global education, financial services and business information company. Today, McGraw-Hill, led by Mr. McGraw's son, Harold "Terry" McGraw III, plays a significant role in the global economy and the advancement of education.
"My father was a passionate and principled leader, who led McGraw-Hill with an educator's heart and an insistence that the underlying principles guiding the company since its founding in 1888 - integrity, quality, value and excellence - would endure," said Harold McGraw III, chairman, president and chief executive officer of The McGraw-Hill Companies. "He was an inspiration to us all and deeply loved McGraw-Hill and its many contributions to society. He had a special affection for all employees and their commitment to the future and well-being of the company."
Mr. McGraw continually reminded his managers that McGraw-Hill's mission was to educate and inform. "I like to feel that we have been, and still are, would-be educators at heart," he often said.
These values led to record-setting results in his eight years as CEO with the company. Under Mr. McGraw, the company's revenue more than doubled and earnings per share more than tripled. This performance set the stage for future innovations that have changed the way the world does business and educates its people. The same values guided Mr. McGraw's steadfast commitment to philanthropy. Over the years, he helped significantly improve the lives of the less fortunate through his leadership and generous personal support of numerous education and literacy programs.