Greetings,
The last few months have been a trying time for all of us. Although we still feel the ripple effect of the lingering impact of COVID-19 and the anti-education policies of the previous administration, our business is sound.
Several years ago, my children asked me why I chose to join the Cenforce. "Father", they said. "Why would you prefer to undertake the difficult endeavor of joining a failing company over a successful one?" I told them that in difficult times, men, womyn, and the non-binary embrace the unknown and choose to effect change!
During my time at Cengage, I've seen it transform from an outdated business in a dying industry to an amazingly innovative and agile concern that lives on the bleeding edge of the ed-tech space. While there have been challenges, we have consistently embraced change, out-of-the-box thinking, and many new initiatives focused on bringing down the cost for the customer while changing lives. We should all be proud knowing that we have been integral to redefining education and how students learn.
Let me be clear, there have been many hurdles that we have overcome. I sometimes think of Jesse Owens and how impressed he would be by our combined performance. We have, at times, had to make difficult decisions, but history is not written by those who follow the norm and do not wake up every day excited to shake things up, disrupt the norm, and embrace the change!
While some feel that the recent realignments have come from a position of weakness, they are, in fact, incorrect. The changes have better positioned us to succeed against our competitors, as we've become more agile, cost-efficient, and diverse while staying true to our ethos and embracing our credo.
Lastly, I would like to point out the facts to our doubters. While revenue may be in decline, digital activations are up. It can not be disputed that Cengage Unlimited has been an unmitigated success.
In the coming weeks and months, we will again embark on an exciting journey of disruption and change. Many members of the Cenforce are simply unwilling or unable to adapt to our new ways of doing business. Although we will always be thankful for their service, many will be chosen to embark on an exciting journey to become their own CEO. I'm sure that the life lessons that working at the leading ed-tech firm have taught them will serve them well as they continue on their journey.
For those that remain part of the Cenforce know that you are among the best and brightest in a new industry that will push forward to create a one-thousand-year reign of transformative learning.
Full Stop!