New York, NY (April 6, 2005) -- Scholastic, the global children's publishing and media company, announced today that Barbara Marcus, President of Children's Book Publishing and Distribution and Executive Vice President of Scholastic Inc., has decided to leave the company following the July 16, 2005 release of Harry Potter and the Half-Blood Prince, the sixth book in the bestselling Harry Potter series. During Ms. Marcus's 22 years at Scholastic, she supervised the publication and release of all five previous Harry Potter books as well as innumerable other bestselling titles, and she helped guide Scholastic's growth to its position today as the world's largest publisher and distributor of children's books. She will be succeeded by Lisa Holton, Senior Vice President, Publisher, Global Disney Children's Books.
 
“Barbara Marcus indicated to me some time ago that she wished to leave the company after achieving improved results in the trade and book fair businesses,” said Richard Robinson, Chairman, President, and CEO of Scholastic. “As recently reported in the third quarter earnings, Barbara has achieved her goals, sharply improving trade profits and increasing book fair revenues. At my request, Barbara has agreed to continue with Scholastic through the release of Harry Potter and the Half-Blood Prince, and I am grateful to her for guiding the publication of the incredible series which we believe will once again be a record-setting publishing event this July.”
 
Ms. Marcus is widely considered to be the top children's publisher in the U.S. based on her extraordinary record in building Scholastic's Children's Book Publishing and Distribution business -- including trade, book clubs, book fairs, and home continuities -- from $120 million in revenues in 1983 to ten times that number, or approximately $1.2 billion, today.
 
“I have had a truly extraordinary experience and opportunity at Scholastic,” said Ms. Marcus. “The authors, illustrators and especially my colleagues have made my years here a most special time. I feel now is the right time to leave, having accomplished my goals. I came to Scholastic to help build a great children's book and distribution operation, and I am proud of what we have achieved. I know that the company will continue to prosper.”
 
Reflecting on Barbara Marcus's outstanding career at Scholastic, Mr. Robinson added, “Barbara Marcus has been an effective member of the management team of Scholastic throughout her 22 years, helping guide numerous changes at the company. I thank Barbara for all she has done for Scholastic and for the many people who have worked with her, including authors, editors, sales and marketing staff, customers, other publishers whose books we sell through school channels, and all the support staff who make a publishing company successful.”
 
After nearly ten years at Bantam Books and Berkeley Books, Barbara Marcus joined Scholastic in 1983 as Vice President of Marketing and became President of the Children's Book Group in 1991, serving as executive in charge of U.S. children's books from that time to the present. Among her remarkable successes, in addition to the Harry Potter series, are such well-known titles as The Baby-Sitters Club®, Goosebumps®, I Spy™, Captain Underpants®, and the bestselling works of author Cornelia Funke, author/illustrators Walter Wick and David Shannon, and many others.
 
Marcus also participated in the 2002 acquisition of Klutz, the foremost publisher of “books plus.” She went on to help build a presence in the licensed publishing business, launching partnerships with Warner Brothers and Dreamworks.
 
In addition to building the trade business, Marcus also grew Scholastic Book Clubs and Book Fairs to be the largest distributor of children's books delivered directly to schools. In the book club channel, she established special offers, the Firefly Book Club® for grades pre-K and Kindergarten, the school continuities business, and she oversaw the acquisition of Trumpet Book Club in 1994 and Troll Book Club in 2003. Under her direction, the School Book Fairs channel grew from a small regional business to its present national size and scope with more than 100,000 book fairs held annually as school fund-raisers nationwide.
 
Today, the U.S. Children's Book Publishing and Distribution business represents about 60% of Scholastic's total worldwide revenues.
 
Lisa Holton brings to Scholastic more than 20 years experience in publishing. Since 2001 she has served as SVP, Publisher, Global Disney Children's Books with complete P & L responsibility for Disney's global children's book business, providing strategic direction as well as supervision of editorial, sales, budgeting, forecasting, operations, and marketing.
 
Among her many accomplishments at Disney, Ms. Holton created the multi-cultural imprint Jump at the Sun, built an award-winning list of titles, and nurtured new talent such as Caldecott Medal winner Mo Williams among others. She published numerous bestsellers including Peter and the Starcatchers by Dave Barry and Ridley Pearson, The Doll People by Laura Godwin and Ann Martin, and Crispin by Avi, which earned the prestigious Newbery Medal. She also secured publishing rights for Baby Einstein, encouraging Disney to acquire the company, and fostered a successful partnership with Miramax, including the publication of the bestselling Artemis Fowl series by Eoin Colfer, and The Bartimaeus Trilogy by Jonathan Stroud. Ms. Holton invented a new model for global publishing by linking the worldwide Disney book entities, placing a greater emphasis on excellence in product development, and strengthening the sales and marketing efforts within the local regions of worldwide Disney children's book publishing.
 
Announcing the transition in leadership, Mr. Robinson said, “Lisa Holton is a strong, resourceful leader and manager who will be a worthy successor to Barbara Marcus. She has a proven record directing editorial, marketing, and sales and business strategies with the goal of both excellence and profitability. Lisa understands the power of Scholastic's unique channels of book distribution as well as the strength of our original publishing. Acknowledged as one of the top global publishers of children's books, she will help Scholastic expand our position as the world's largest publisher and distributor of children's books.”
 
Ms. Holton joined Disney in 1996 as Vice President, Publisher, Hyperion Books for Children and Disney Press. She became Group Publisher of Disney Children's Books in 1999 and then moved to her most recent position in 2001. She began her career at Viking Penguin in 1984 as assistant in Special Sales, then as Manager of Sub Rights, Director of Product Development for Frederick Warne (Peter Rabbit) and then as Director of Marketing for Puffin Books and Frederick Warne. Moving to Harper Collins Children's Books in 1990, she was VP, Director of Marketing and Merchandise Development, and then VP, Associate Publisher and Editor-in-Chief, supervising 40 editorial staff and a list of 400 new titles annually. She began Harper Festival, which included an early childhood book program for children 0-3.
 
Lisa Holton graduated summa cum laude from Colgate University. She will join Scholastic in mid-May.
 
About Scholastic
Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of children's books and a leader in educational technology. Scholastic creates quality educational and entertaining materials and products for use in school and at home, including children's books, magazines, technology-based products, teacher materials, television programming, film, videos and toys. The Company distributes its products and services through a variety of channels, including proprietary school-based book clubs, school-based book fairs, and school-based and direct-to-home continuity programs; retail stores, schools, libraries and television networks; and the Company's Internet site, www.scholastic.com

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