SEC filings further illuminate the bigger story overlooked yesterday: Scholastic executive Iole Lucchese’s ascent to chair of the company’s board, while continuing to serve as evp, chief strategy officer. In early July, the Surrogate’s Court issued preliminary letters appointing Lucchese as executor of the late Richard Robinson’s estate. Furthermore, she is “also expected to be the sole beneficiary” (e.g. inherit) Robinson’s special Class A shares — which gave him control of the company — “after probate is completed.” As the filing notes in its official language, “Consequently, Ms. Lucchese may be deemed to control the Registrant” (i.e. Scholastic). As executor, […]
