Inside the Real-Life Succession Drama at Scholastic
The New York Times
Iole Lucchese, a senior executive at the publishing company, said she was just as surprised as everyone else to learn she had been handed control of the business.
When her phone buzzed on June 6, Iole Lucchese was still absorbing a shock that had come the day before. Her longtime boss, M. Richard Robinson Jr., the chairman and chief executive of the Scholastic publishing company, had died suddenly while taking a walk with one of his sons and his former wife on Martha’s Vineyard.
Now, Scholastic’s general counsel, Andrew Hedden, was on the phone, delivering a second surprise.
He had called to inform her that Mr. Robinson, 84 — who turned his father’s book and magazine business into the largest publisher and distributor of children’s books in the world, known for thousands of beloved series, including Clifford the Big Red Dog, Hunger Games and Harry Potter — had left Ms. Lucchese 53.8 percent of Scholastic’s Class A stock. The company where she had worked for 30 years, rising from a junior employee in the Canadian market to one of its top executives, was now a company she controlled.
