Breaking News

As part of its CFO transition announcement earlier, the company states: "Skillsoft also reaffirmed its full year fiscal 2023 outlook, originally provided on September 7, 2022 and noted that its CFO transition is unrelated to the Company's financial results, operational performance, financial reporting or accounting practices."

Skillsoft announced that it has appointed Richard Walker, Skillsoft's current Chief Corporate Strategy and Development Officer, as Chief Financial Officer, effective October 28 . Gary Ferrera, Skillsoft's current CFO, is stepping down to pursue personal interests and will remain with the Company through December 2022 to ensure a smooth transition. Following the transition, Mr. Walker will maintain his corporate strategy and development responsibilities, thereby streamlining the Company's executive leadership team and creating a more focused organizational structure.

Skillsoft said its Board of Directors has authorized Skillsoft to repurchase up to $30 million of its Class A common stock. Under the program, Skillsoft may purchase shares in the open market, in private negotiated transactions, or by other means from time to time. The timing and amount of any shares purchased will be based upon a variety of factors, including the share price of Class A common stock, general market conditions, alternative uses for capital, Skillsoft's financial performance, and other considerations. The share repurchase program does not obligate Skillsoft to purchase any minimum number of shares, and the program may be suspended, modified, or discontinued at any time without prior notice.