The owner of $1.2BILLION Scholastic Corp. – which publishes books like ‘Clifford the Big Red Dog’ and ‘Magic Schoolbus’ – died suddenly in early June and shockingly left the company to a past flame who works in the company.
M. Richard Robinson Jr., who died suddenly on June 5 during a walk in Martha’s Vineyard, left the the company to Iole Lucchese, the company’s strategy officer; not either of his sons, siblings or ex-wife, The Wall Street Journal reported
She also inherited all his personal possessions, according to the The Wall Street Journal, which reviewed the 2018 will that outlined the succession plan, which family members are reportedly unhappy about.
Family members and former colleagues said Robinson, 84, and Luccesse, 54, it was an open secret that they were in a longtime romantic relationship, but said they believed the couple broke up years ago.
Robison said in his 2018 will that Lucchese, who has been with the company for more than three decades, is ‘my partner and closest friend.’
Scholastic Corp. publishes some of most-well known titles like ‘Harry Potter,’ ‘Clifford,’ ‘Magic Schoolbus’, ‘Captain Underpants,’ among others.
Family members told the paper that they’re reviewing their legal options.
Richard ‘Dick’ Robinson (left) gave the $1.2billion Scholastic publishing company to longtime flame and colleague Iole Lucchese (right)
Richard Robinson, chairman, president and CEO of Scholastic, rear, holds the first signed US edition of the book ‘Harry Potter and the Half-Blood Prince’ during its unveiling in New York, Friday, July 15,2005
Maurice Robinson, 86, founder and chairman of Scholastic Magazines Inc. (left) pictured with his son M.Richard Robinson Jr., the firm’s president and chief executive officer
Robinson’s death shocked everyone. Although he was 84, he was said to be in good shape.
The company issued this statement afterward: ‘We are deeply saddened by the sudden passing of Dick Robinson.’
‘Dick was a true visionary in the world of children’s books and an unrelenting advocate for children’s literacy and education with a remarkable passion his entire life. The Company’s directors and employees, as well as the many educators, parents and students whose lives he touched, mourn his loss.’
He left behind two sons – Maurice ‘Reece’ Robinson, 25, and John Benham ‘Ben’ Robinson, 34 – his ex-wife and mother of his boys Helen Benham, and siblings.
In a statement to the Wall Street Journal, this decision took Lucchese by surprise too.
‘I was shocked and we were not expecting this,’ she said.
Reece Robinson told The Wall Street Journal that he never met Lucchese until they spoke about his dad’s estate last week.
He told the newspaper that this was ‘like salt in an open wound’ but said, ‘We expect to have a collaborative approach with the estate.’
The Wall Street Journal reported that Robinson and his ex-wife Benham became good friends again during the pandemic.
J.K. Rowling (L) and Richard Robinson attend HBO’s ‘Finding The Way Home’ World Premiere at Hudson Yards on December 11, 2019
Scholastic president and CEO Richard Robinson speaks onstage during the 2016 Eagle Academy Foundation Fundraising Breakfast at Gotham Hall on April 29, 2016 in New York City
It’s unclear who inherits a large chunk of common shares, which the Wall Street Journal estimates is worth about $70 million.
William Robinson, Richard Robinson’s younger brother, said in an interview that his brother and father wanted to keep Scholastic independent.
‘Our family value was we’d rather not have the financial benefit that we might get from a sale if it means the company won’t be in the future what it was,’ he told The Wall Street Journal .
‘Everybody knows Scholastic and has a good feeling about it and it does good things for teachers. It’s more than just a business for us.’
The company declined comment.
Scholastic Corp. publishes popular children’s books like ‘Clifford the Big Red Dog’ and ‘Magic School Bus’
