McGraw Hill Is Changing its Name After 128 Years

Feb 04, 2016

McGraw Hill Financial Inc. (mhfi) is getting rid of its family name for the first time in its 128-year history.

The company has put plans into motion to change its name to S&P Global Inc. later this year, the Wall Street Journal reports. The move has been approved by the company's board of directors, and a proposal will soon be filed to amend it.

"McGraw Hill is definitely seen as a publishing brand," CEO Douglas L. Peterson told the Journal. Since Peterson took over as CEO in 2013, he has facilitated a shift towards global data analytics and away from publishing, and the McGraw Hill brand no longer properly represent the rest of the company. McGraw Hill owns Standard & Poor's Rating Service, which is the largest rating firm in the world, as well as two other S&P branded divisions.

The Fortune 500 company has been considering a name change since last year when Harold "Terry" McGraw III, the founder's great-grandson, resigned as chairman. McGraw, the chairman emeritus, supports the move, as do all the company's board members.

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