Wolters Kluwer's long-time CEO McKinstry to retire, shares tumble

(Reuters) - Shares in Wolters Kluwer fell around 9% on Wednesday after the Dutch information services firm said its long-time CEO Nancy McKinstry would retire early next year.

The longest-serving chief executive among Dutch blue-chip companies, McKinstry has been the CEO of Wolters Kluwer since 2003. She will retire in February 2026, the company said.

"McKinstry was instrumental in the company's transformation," ING analyst Thymen Rundberg said.

She will be succeeded by Stacey Caywood, who is currently the CEO of the company's Health division.

"Stacey was closely involved in the updating of our three-year plan that we've announced today, and I have full confidence that the company will be in excellent hands," McKinstry said in a conference call.

Rundberg said Caywood's appointment, with her wealth of experience at Wolters Kluwer, was positive for the company, which also reported annual results largely in line with market expectations on Wednesday.

The company's shares are on track for their worst day since March 2020 if the losses hold through the day.

(Reporting by Bart Meijer and Johan Bodinier; Editing by Milla Nissi)

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