In a historic milestone for William H. Sadlier, Inc. (OTCPNK: SADL), the 185-year-old publisher of religious and academic educational materials announced today that Chairman Frank Sadlier Dinger and President William Sadlier Dinger, brothers who have shared leadership of the family company since 1991, would take new roles as Chairman & Special Adviser and President Emeritus & Special Adviser, respectively, effective June 30. Both will continue as members of the Sadlier Board of Directors.
Sadlier also announced the appointment of the company’s current Executive Vice President and Chief Financial Officer, Raymond D. Fagan, as the company’s new President and Chief Executive Officer, effective June 30, 2017. Mr. Fagan, who joined the Company in 2012, previously held senior executive positions with Dun & Bradstreet, Harcourt Education Group, Interpublic Group and The Thomson Corporation. Frank Sadlier Dinger and William Sadlier Dinger, known to all as Ding and Bill, are the great-grandsons of Company namesake William H. Sadlier and direct descendants of Denis and James Sadlier, Irish immigrants who in 1832 founded the religious publishing business that grew into today’s company. Younger brother Bill joined Sadlier first, in August 1963. Ding followed in June 1964, after completing service in the U.S. Army. At the time that both men joined, their father, F. Sadlier Dinger, served as Chairman of the Board.
“Sadlier has always been a family business, and today’s announcement does nothing to change that,” Ding said. “It has long been our tradition to strengthen the Company with talent from outside the family. In his five years with us, Ray Fagan has proven that he has the financial acumen, publishing experience and leadership skills to take us forward without a hitch.” “We are proud to turn the reins over to Ray, another University of Notre Dame graduate like Ding and me,” Bill said. He added: “Ding and I intend to remain active as Board members and advisers. Moreover, the next generation of our family is well represented in top management by Ding’s daughters, Angela Dinger, General Counsel, and Corporate Secretary, and Melissa Gibbons, Director of Customer Service, and by my son, Bill Junior, Group Vice President.”
Mr. Fagan comes to his new position with more than 25 years of media and information industry experience, most recently with the business-research firm Dun & Bradstreet, where he was Chief Financial Officer for North America. Before that, he was Senior Vice President and Chief Financial Officer of the international academic publisher Harcourt Education Group. Sadlier is in the process of recruiting a successor to Mr. Fagan as Chief Financial Officer.