By Najat Kantouar
Wolters Kluwer shares fell following Chief Executive Officer Nancy McKinstry's decision to retire in early 2026 after two decades in the role.
In morning European trading, shares were down 7.7% at 159 euros. Over the past 12 months, shares have risen 7.8%.
The Amsterdam-listed information-services company said Wednesday that the current head of its health business, Stacey Caywood, would replace McKinstry following the annual general meeting of shareholders on May 15.
McKinstry has served the company as CEO and chair of the board since September 2003. Since then, the company's shares have jumped to 172.35 euros a share at closing Tuesday, from around 15 euros. She previously held leadership positions including CEO of Wolters Kluwer's operations in North America.
Separately, the Dutch company reported a rise in revenue for 2024 to 5.92 billion euros ($6.21 billion) from 5.58 billion euros the prior year. Within this, North America revenue grew 6% organically and Europe revenue increased 5%. Meanwhile, Asia Pacific and the rest of world segment rose 6%.
Adjusted operating profit increased 8% at constant currency to 1.60 billion euros, while the adjusted operating profit margin grew to 26.4% from 27.1%.
The board declared a total dividend of 2.33 euros a share for last year, representing an increase of 12%.
Looking to 2025, Wolters Kluwer expects an adjusted operating profit margin between 27.1% and 27.5%, and adjusted free cash flow of 1.25 billion to 1.30 billion euros. The company also anticipates mid-single-digit growth in diluted adjusted earnings per share.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
February 26, 2025 06:11 ET (11:11 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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