Mary Winston, 45, has resigned as Scholastic Corp.’s executive vice president and chief financial officer after three years of service.
Company CEO Richard Robinson said in a statement that Winston “improved operating margins, produced more free cash flow, strengthened asset management, and reduced costs.” However, when told of Robinson’s plan to appoint a chief administrative officer, she decided she would “prefer to pursue her career in finance and would seek other opportunities outside Scholastic.”
Winston, who in 2006 was named one of BE’s Most Powerful Women in Business, acknowledged that the public statement about her departure is accurate but declined further comment.