- Recently, S&P Global (NYSE: SPGI) and IHS Markit (NYSE: INFO) announced the future divisional structure of the combined company, effective upon completing their pending merger
Late last month, S&P Global (NYSE: SPGI) and IHS Markit (NYSE: INFO) announced a merger at an enterprise value of $44 billion. And recently, the companies announced the future divisional structure of the combined company, effective upon completing their pending merger.
S&P Global Ratings will be led by Martina Cheung (currently President of S&P Global Market Intelligence) upon close. And effective immediately, Cheung will also lead the S&P Global ESG team, consolidating cross-divisional ESG assets with a leadership group designed to scale quickly and accelerate growth. John Berisford (currently President of Ratings) will lead the Integration Management Office upon closing in partnership with Ewout Steenbergen, Chief Financial Officer.
S&P Global Market Intelligence will be combined with IHS Markit’s Financial Services business upon close. And it will be led by Adam Kansler (currently President of Financial Services at IHS Markit).
S&P Global Platts will be led by Saugata Saha (currently CFO of S&P Global Market Intelligence and Platts), effective January 2021. And after close, Saha will continue leading Platts, combined with the Energy & Natural Resources business of IHS Markit. For nearly 7 years, Saha has led initiatives to drive growth and execute on complex transformations at S&P Global. Saugata’s vast experience spans strategy, operations, finance and integration, as well as consulting at McKinsey and several business roles at The Godrej Group.
Martin Fraenkel (currently President of S&P Global Platts) will work closely with Mr. Saha to ensure a smooth transition. And Fraenkel will become Vice Chairman of Platts and continue to serve on the Board of CRISIL until his retirement in September 2021.
Brian Crotty (currently EVP, Energy & Natural Resources at IHS Markit) will work closely with Saha during the integration phase and will remain with the company for one year after close. And S&P Dow Jones Indices will continue to be led by Dan Draper (CEO of S&P Dow Jones Indices).
S&P Global Transportation will be led by Edouard Tavernier (currently EVP, Transportation with IHS Markit).
As previously announced, Lance Uggla, Chairman and Chief Executive Officer of IHS Markit, will serve as a special advisor to the combined company for one year following the close.
And as previously disclosed, Ewout Steenbergen will serve as Chief Financial Officer of the combined company. He is going to also continue to lead Kensho and upon closing will expand his responsibilities to include Consolidated Markets & Solutions (CMS), a division of IHS Markit.
S&P Global and IHS Markit have also formed an Integration Management Office (IMO) — which prior to close will be co-led by Cheung and Jonathan Gear (currently Chief Financial Officer of IHS Markit). Following closing, the IMO will be led by John Berisford in partnership with Ewout Steenbergen. Plus comprising leaders from S&P Global and IHS Markit, the IMO will develop and execute plans to bring together the two companies.
The combination remains on track for closing in the second half of 2021. And the transaction requires the approval of shareholders of both S&P Global and IHS Markit.
KEY QUOTES:
“This announcement is an important milestone in bringing together our two world-class organizations to power the markets of the future. As a combined company, we will provide customers the intelligence they need to make decisions with conviction while providing growth and development opportunities for our people.”
— Douglas Peterson, President and Chief Executive Officer of S&P Global
“We believe this combined leadership team reflects the strengths of both organizations and brings the right skills, expertise and experience as we work to drive long-term growth and shareholder value while continuing to deliver for our customers.”
— Lance Uggla, Chairman and Chief Executive Officer of IHS Markit
