The McGraw-Hill Companies' Shareholders Approve Company Name Change to McGraw Hill Financial
NEW YORK, May 1, 2013 /PRNewswire-FirstCall/ -- Shareholders of The McGraw-Hill Companies (NYSE: MHP) today voted to change the Company's name to McGraw Hill Financial.
The name McGraw Hill Financial more closely identifies the Company with the credit ratings, benchmarks and analytics it provides to global capital and commodity markets. Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts and J.D. Power & Associates are some of the Company's leading brands.
"While the McGraw Hill Financial name is new, our global brands are well established and trusted by clients who look to them for essential intelligence necessary for managing risk and identifying opportunities to grow," said Harold McGraw III, Chairman, President and CEO. "The ongoing growth and success of our Company have always been a result of our remarkable people. I am optimistic about the future of McGraw Hill Financial because I have great confidence in the integrity, ingenuity and unwavering dedication of our 17,000 men and women."
The change to McGraw Hill Financial is the culmination of a significant period of achievement, growth and transformation in the 125-year history of the Company. In 2012, the Company agreed to sell McGraw-Hill Education to investment funds affiliated with Apollo Global Management, LLC; invested for growth with five tuck-in acquisitions; launched the S&P Dow Jones Indices joint venture; achieved approximately $175 million in run-rate cost reductions; and returned $1.3 billion to shareholders in the form of dividends and share repurchases.
NYSE Symbol to Change to MHFI
As announced Tuesday, April 30, 2013, to go along with the Company's new identity, the ticker symbol for the Company's common stock, which is traded on the New York Stock Exchange, will change to 'MHFI,' effective May 14, 2013. The McGraw-Hill Companies' common stock has traded on the NYSE since 1929 and since the 1950's, under the ticker 'MHP.'
Mr. McGraw and the Company's senior management and employees will ring the closing bell at the NYSE on May 14.
New Website and Brand Identity Unveiled
The Company also is launching a new corporate website: www.mhfi.com. The site features McGraw Hill Financial's new logo, a red circular Mobius strip that forms a triangle in the center and the Company's new tag line, "Essential Intelligence." The new brand identity communicates forward movement, continuity, and the strong direction the Company is forging in capital, commodity and commercial markets.
The site offers visitors a Market Intelligence Center that provides up-to-the-minute data from S&P Dow Jones Indices and the top news headlines from the Company's leading brands.
A marketing campaign for McGraw Hill Financial, which will include ads in mass transit stations in key financial hubs around the world, print and an online component, will launch this fall.
Empire State Building to be Lit in Red
On Friday, May 3, 2013, the Empire State Building in New York will be lit in red in recognition of McGraw Hill Financial and the Company's 125th anniversary.
About McGraw Hill Financial:
McGraw Hill Financial, a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power & Associates, McGraw Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.
CONTACT: Emily Fredrix Goodman, 212-512-2825
SOURCE The McGraw-Hill Companies