Brian Napack, CEO and president of Hoboken-based book publisher Wiley, has stepped down from his role, ahead of a planned Investor Day on Thursday.
Matthew Kissner, previously Wiley’s board chair and an interim CEO ahead of Napack’s appointment in 2017, has once again been made interim CEO. The Investor Day is being rescheduled.
Chairman Jesse Wiley said the company will work to develop the next generation of leadership for the company.
In June, Napack and Wiley’s executive leadership announced a value creation plan that includes intensifying focus on Wiley’s strongest and most profitable businesses, divesting noncore assets, and rightsizing and streamlining the company. Kissner will execute on that restructuring plan.
“A highly experienced C-level executive and Wiley veteran, Matt brings a deep understanding of Wiley’s markets, operations and people,” Wiley said. “He is well-positioned to hit the ground running as we advance our plans to materially improve profitability and performance and drive consistent growth in the years to come.”
“I’m confident in the recent portfolio decisions the company has made and the intensified focus on Wiley’s core businesses,” Kissner said. “Wiley is in a great position as a market leader in research with strong competitive moats, including must-have journal brands, platforms and audience networks, along with a strong balance sheet and solid cash flow. We have strong confidence in our market and our strategies. I look forward to working closely with the leadership team and board of directors to drive execution and ensure a seamless transition.”