The Board of Directors of Scholastic Corporation announced that Peter Warwick has been named President of the global children's publishing, education and media company, effective August 1, 2021. Mr. Warwick, who has served as an independent director on the Company's Board since 2014, assumes the lead operating roles and responsibilities of the late M. Richard (Dick) Robinson, Jr., who passed away in early June. The Company also announced the immediate appointment of two new members to the Company's Board of Directors. Iole Lucchese and Robert Dumont Join Scholastic's Board of Directors. Iole Lucchese, the Executive Vice President, Chief Strategy Officer of the Company and President, Scholastic Entertainment, was elected to fill the Board seat recently vacated by the passing of Dick Robinson, with the Board also appointing Ms. Lucchese as the Chair of the Board. In her current executive positions, which she will continue to hold, Ms. Lucchese has worked in partnership with Dick Robinson to advance the Company's strategic and creative initiatives across all operating units, including new product and program offerings, business transformation, and digital expansion, as well as overseeing the Company's digital content and marketing initiatives and its expanding media activities. Mr. Dumont is currently the principal at Robert Dumont PLLC. Mr. Dumont established his private practice after 30 years of experience with large organizations: first as a partner in Baker & McKenzie and then as the leader of Deloitte Tax LLP's international private client practice. Mr. Dumont fills the Board seat held by Andrew Hedden, who resigned from the Board for this purpose after 30 years of Board service. Mr. Hedden continues to serve the Company as its Executive Vice President, General Counsel and Secretary. James W. Barge will continue to serve as the Board's Lead Independent Director.