McGraw-Hill Names Lloyd Waterhouse Head of Education Unit

McGraw-Hill Cos. (MHP) named Lloyd “Buzz” Waterhouse as president and chief executive officer of McGraw- Hill Education, ahead of the parent’s planned split into two companies.

Waterhouse, a former CEO of Harcourt Education, will step into the role on June 14, New York-based McGraw-Hill said today in a statement. The company said last month that Robert Bahash, president of the education business, would retire.

McGraw-Hill, the owner of Standard & Poor’s, is in the process of splitting into two, with one company focused on education and the other on financial information. The division is expected to be completed this year, McGraw-Hill has said.

Waterhouse also spent 26 years at International Business Machines Corp., where he was general manager of E-Business Services.

His experience in education and new technologies will help McGraw-Hill “in the new era of global digital learning,” Harold “Terry” McGraw, the company’s CEO, said in the statement.

McGraw-Hill Financial will include the Standard & Poor’s ratings service, S&P Indices, Platts energy information services and J.D. Power & Associates.

McGraw-Hill fell 1.4 percent to $43.17 at 9:54 a.m. in New York.

To contact the reporter on this story: Lisa Wolfson in Boston at lwolfson@bloomberg.net

To contact the editor responsible for this story: Lisa Wolfson at lwolfson@bloomberg.net