Cengage Announces Appointment of Michael Pickrum as Chief Financial Officer

BOSTON, Oct. 19, 2017 /PRNewswire/ Cengage, the education and technology company serving the higher education, K-12, professional, library and workforce training markets worldwide, today announced the appointment of Michael Pickrum as Executive Vice President, Chief Financial Officer. Pickrum succeeds John Leahy who, as previously announced, is stepping down as CFO after three years in the role. These changes are effective November 20, 2017.

An accomplished finance, strategic and operations leader in media and digital content organizations, Pickrum will oversee all aspects of the company's finance function, including financial planning and analysis, financial reporting, control, treasury, tax and internal audit. Pickrum will also lead Operations, which includes real estate and warehouse operations. He will report directly to CEO Michael Hansen as part of the Executive Team.

"I am thrilled that Michael Pickrum is joining Cengage at this pivotal moment in our company's journey," said Michael Hansen, CEO, Cengage. "His proven cross-functional financial management and business transformation background, as well as strategy and operations experience in media and education technology, make him an ideal fit for Cengage. His track record and business judgement make him an outstanding addition to our management team as we execute on the multi-year transformation of our business to become a true digital learning company. We look forward to welcoming Michael to Cengage and the contributions he will make in extending our positive momentum."

"I am delighted to work with the Cengage team to help build on the company's opportunities to achieve meaningful long-term results for students and educators, while transforming the learning environment. Cengage is recognized for creating valuable learning experiences with content and digital tools that make every student a confident learner, and I look forward to helping to enhance that value to benefit all the company's stakeholders," said Pickrum.

Pickrum most recently served as Chief Strategy Officer of EVERFI, an edtech company that provides scalable digital learning and certification solutions, where he oversaw corporate strategy and growth opportunities. Previously, he served as Chief Financial Officer and Executive Vice President of Business Development and Strategy at the global media and entertainment company BET Networks/VIACOM. Prior to becoming CFO, Pickrum was EVP, Chief Operating Officer, and Vice President, Business Development of BET Interactive, the digital, media and content company.

Pickrum holds a BS in Electrical Engineering and an MS in Engineering Economic Systems, both from Stanford University, as well as an MBA from the Wharton School of Business at the University of Pennsylvania. He serves on the boards of Charter Board Partners and the Meridian International Center.

In announcing the Pickrum appointment, Hansen also thanked outgoing CFO John Leahy for his work to strengthen Cengage operationally and financially, providing a strong foundation for this next phase of the digital transformation.

For media inquiries, contact Susan Aspey at susan.aspey@cengage.com

About Cengage
Cengage is the education and technology company built for learners. The company serves the higher education, K-12, professional, library and workforce training markets worldwide.Cengage creates learning experiences that build confidence and momentum toward the future students want.The company is headquartered in Boston, MA with an office hub in San Francisco. Employees reside in nearly 40 countries with sales in more than 125 countries around the world. Visit us atwww.cengage.comor find us onFacebook orTwitter.

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