The McGraw-Hill Companies Announces Organizational and Management Changes
Mr. Callahan, who will join the Corporation December 7, had been CFO of Dean Foods from 2006 until earlier this month and before served in senior management positions at PepsiCo, including CFO of Frito-Lay International. Previously, he worked in senior roles at General Electric Company and McKinsey & Company.
Mr. McGraw added, "Bob Bahash will be bringing his strong managerial skills and leadership to McGraw-Hill Education. He has been a key member of our corporate team, which is focusing on global expansion and digital innovation in education services."
Mr. Bahash has been CFO of The McGraw-Hill Companies since 1988. In addition, he was responsible for managing information technology corporate-wide, including the direction of the Corporation's digital strategy. Previously, he was Senior Vice President Finance and Manufacturing. Before that, Mr. Bahash served in leadership positions at McGraw-Hill Education in the U.S. and internationally.
The President of McGraw-Hill Education, Peter Davis, has left the Corporation to pursue other career opportunities.
Mr. McGraw said, "I want to thank Pete Davis for his many contributions to The McGraw-Hill Companies. He has been a valued colleague and leader and we all wish him well in his future career."
Currently The McGraw-Hill Companies reports its results in three segments:
- Financial Services, which includes:
- Standard & Poor's Credit Market Services
- S&P Investment Services (Capital IQ, S&P Indices, Valuation & Risk Strategies and Equity Research Services)
- McGraw-Hill Education
- Information & Media
Beginning January 1, 2011, The McGraw-Hill Companies' reporting segments will be:
- Standard & Poor's, the leading credit ratings company
- McGraw-Hill Financial, combining Capital IQ, S&P Indices, Valuation & Risk Strategies and Equity Research Services into one powerful company
- McGraw-Hill Education, the world's premier education services company
- McGraw-Hill Information & Media, a global business information company
As a result, the Corporation will provide more information about the financial segments. When The McGraw-Hill Companies reports its fourth-quarter 2010 results, it plans to provide pro forma quarterly and full-year 2009 and 2010 revenues and operating profit for each of the two new financial segments.