Nancy McKinstry

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Nancy McKinstry
Nancy McKinstry.

Nancy McKinstry (born 4 January 1959) is an American businesswoman, now living in the Netherlands. She is CEO and chairman of the executive board of Wolters Kluwer since September 2003,[1] and a member of the executive board since June 2001.

Early life[edit]

McKinstry was born in Portland, Connecticut in the United States.[2]

Education[edit]

She holds an MBA (Finance & Marketing) from Columbia Business School, a bachelor's degree in economics from University of Rhode Island (Phi Beta Kappa), and received an honorary doctorate from University of Rhode Island.[3]

Early career[edit]

Early in her career, McKinstry held management positions with Booz & Company (formerly Booz Allen Hamilton, currently known as Strategy&), an international management consulting firm, where she focused on assignments in the media and technology industries.[citation needed]

In 1999, McKinstry worked as CEO of SCP Communications, a medical information company, before rejoining Wolters Kluwer to head its North American operations.[citation needed]

Wolters Kluwer[edit]

Before becoming a CEO of Wolters Kluwer in 2003, McKinstry was chief executive of the company’s North American operations and had held a range of senior positions at subsidiaries, including chief executive of CCH Legal Information Services, now a part of Wolters Kluwer’s Legal & Regulatory division.[4] Earlier, McKinstry held product management positions with CCH INCORPORATED, now part of Wolters Kluwer’sTax & Accounting division.[5] She is both the Dutch company’s first American and first female chief executive. She has praised her board’s “courage” in making the appointment and credits her deep group experience in helping with “the transformation from print to digital … as quickly as possible”.[6] As of 2013, three-quarters of Wolters Kluwer's revenue came from online or electronic products, up from 71 percent in 2011, and 49 percent when the transition from print was launched at the end of 2008.[7]

McKinstry does not generally support quotas,[8] but considers diversity a priority for the company. As of the end of 2012, Wolters Kluwer has 28% female executives (in 2003, only 20% had top leadership posts), 43% female managers, and 54% female employees.[9] McKinstry has stated that strong diversity at the middle management level is important that is what is mainly drawn on as executive positions are sought to be filled, and that if you don't have enough diversity at that level it's very difficult to be able to get diversity at the most senior levels.[10]

Boards and honors[edit]

McKinstry is a director of Sanoma Oyj and Abbott. She is a member of the Advisory Council of the Amsterdam Institute of Finance, the Advisory Board for the University of Rhode Island, the Advisory Board of the Harrington School of Communication and Media, and the Board of Overseers of Columbia Business School. In August 2011, she was appointed by the Chinese State Council Information Office as a member of the Foreign Consultant Committee, given her astute business leadership and long-standing expertise in the information and publishing industry.[11]

In 2012 McKinstry was ranked number 15 on Fortune’s Global 50 Most Powerful Women in Business (and 13 in 2011.)[12] She has been in the top 10 on this list in 2004, 2005, and 2006.[13]

She has been among the Financial Times’ Top 50 Women in World Business for several consecutive years, being listed at number 17 most recently in 2011.[14] In 2009 McKinstry was ranked number 43 on the Forbes list of 100 Most Powerful Women, on which she represented one of the two women based in the Netherlands (the other being Dutchwoman Neelie Kroes).[15]

In August 2011, she has been appointed by the Chinese State Council Information Office as a member of the Foreign Consultant Committee.[16]

In April 2021 she was criticized in the Dutch press for having the highest salary of any CEO in The Netherlands as compared to the average salary of her employees, earning 137 times the average wage. In 2017 she only earned 83 times the average wage of her co-workers, maintaining not to be aware of her income. In 2020 she received the highest bonus of the 27 largest companies at the Amsterdam Stock Exchange AEX, receiving 12 million Euros compared to an average bonus of 3.2 million.[17][18]

Personal life[edit]

McKinstry is married and has two children, a son and a daughter. Her husband, an anesthesiologist, now splits his time between his job in New York and staying home with their children in the Netherlands.[19]

See also[edit]

References[edit]

  1. ^ "Nancy McKinstry Profile". CNN. Retrieved 1 February 2013.
  2. ^ Arora, Rupali (2014-02-06). "50 Most Powerful Women Global edition: My very first job". Fortune. Retrieved 2021-07-22.
  3. ^ "Profile: Nancy McKinstry". Businessweek. Retrieved 21 February 2013.
  4. ^ "Wolters Kluwer Executive Board". Wolters Kluwer. Retrieved 5 July 2013.
  5. ^ "CEO Profiles". PWC. Retrieved 5 March 2013.
  6. ^ "Women at the Top:17. Nancy McKinstry". Financial Times. Retrieved 15 November 2011.
  7. ^ "Wolters Kluwer's online move injects life into health business". Reuters. Retrieved 27 March 2013.
  8. ^ "Women at the Top:17. Nancy Mckinstry". Financial Times. Retrieved 15 November 2011.
  9. ^ "2012 Sustainability Report - Policy and Targets". Wolters Kluwer. Retrieved 17 November 2014.
  10. ^ "Pearson and Wolters Kluwer: lessons in diversity". headhoncha. Retrieved 24 January 2013.
  11. ^ "Wolters Kluwer Executive Board". Wolters Kluwer.
  12. ^ "50 Most Powerful Women in Business". Fortune CNN Money. Retrieved 2013. {{cite web}}: Check date values in: |accessdate= (help)
  13. ^ "Global Power 50". Fortune CNN Money. Retrieved 28 September 2008.
  14. ^ "The Top 50 Women in World Business 2011". Financial Times. Retrieved 15 November 2011.
  15. ^ "Forbes 100 Most Powerful Women". Forbes. Archived from the original on August 23, 2009. Retrieved 19 August 2009.
  16. ^ "Wolters Kluwer CEO Accepts Membership Foreign Consultant Committee of Chinese State Council Information Office". Wolters Kluwer. Retrieved 30 August 2012.
  17. ^ See: Niet één baas verdient zoveel keer meer dan het personeel als de baas van dit Alphense bedrijf, Algemeen Dagblad, 8 April 2021. Accessed on 12 April 2021.
  18. ^ See: Best verdienende CEO van Nederland: ‘Ik weet niet wat mijn inkomen is’, Intermediair, 25 April 2018. Accessed on 12 April 2021.
  19. ^ "Non-Dutch CEO Nancy McKinstry: Going Dutch". Chief Executive. Retrieved 1 September 2006.