Michael Schenk Email & Phone Number

St Louis, Missouri, United States

Remote

As an experienced leader in ed tech, I provided investors, analysts, and business leaders with insight into the unique dynamics of the industry, customer profiles, and key players in the digital learning and course materials space.

Cincinnati Metropolitan Area

A member of the Higher Education leadership team, I was responsible for strategic planning and operational management of Cengage’s academic distribution ecosystem, including resellers, B2C, and learning management system (LMS) partners.• Implemented a comprehensive strategy with major partners to drive institutional sales, contributing to 24% growth for this segment and 5% overall higher ed revenue growth.• Reallocated channel investments where resellers deliver the most value, reducing annual distribution costs by $9.5M.• Drove an aggressive direct to consumer growth strategy, outperforming the industry to deliver 4% growth in highly competitive market. • Navigated major reseller partner solvency challenges, working closely with executive leaders, sales teams, and private equity sponsors to mitigate legal and business risks.• Renegotiated learning management system partner agreements and simplified digital integrations, reducing annual operational costs by more than 40%.

Cincinnati Metropolitan Area

With P&L responsibility for a portfolio of complex digital products representing half of Cengage’s Higher Education revenue, I managed a team of product directors, managers, and coordinators, and an annual operating budget of ~$20M.• Delivered a new product portfolio strategy aligned to a new SaaS model, Cengage Unlimited, which outperformed the industry and grew market share by 4bps in 2019. • Led critical content partner communication for the Cengage Unlimited launch, reducing legal exposure and strengthening an evolving engagement model. • Directed development of a compelling new digital product type for a major customer segment that emerged during the COVID-19 pandemic.• Led a series of transformation exercises that realigned teams and streamlined processes to facilitate transition to digital product development and lifecycle management.• Drove critical product and platform migrations that delivered improved customer experiences and optimized Cengage’s technology stack.• In a typical year, launched more than 100 complex digital products to market, and each year reduced to cost to do so.

Cincinnati Metropolitan Area

In a series of product director roles, I was responsible the performance of select product lines ($90M-$220M) in Cengage’s Higher Education portfolio, and led teams of product managers, coordinators, and project managers. • Delivered a new front-end customer approach to product portfolio management that streamlined catalogs with fewer, higher quality products, and more impactful go-to-market activities. • Partnered with Cengage technical teams and third-party developers to create compelling product features that drove digital sales growth, including applications powered by machine learning and AI technologies.• Selected by executive leaders to lead a highly visible $95M product portfolio with declining share and returned it to growth.• Led key product portfolio manager talent and skill development initiatives, enabling the company’s transformation to digital product delivery. • Created an outsourced product development program for select formats that reduced costs and focused internal teams on priority products.• Successfully guided product portfolio and team through Cengage's 2013 Chapter 11 bankruptcy reorganization, focusing on internal/external messaging, legal issues, and talent retention.

Cincinnati Metropolitan Area

As a K-12 and higher education product portfolio manager, I had P&L responsibility for select product lines, including two flagship franchises that drove more than $20M in combined annual revenue. In addition to managing an existing product portfolio and revenue base, I was accountable for acquiring and developing new products and features to address market opportunities and portfolio gaps.• Consistently exceeded annual revenue targets and launched several new products including the first online learning solutions in key markets and a new product franchise that drove $2M in annual sales. • Revamped Cengage's flagship high school product franchises, becoming one of the most widely adopted digital products in Cengage’s catalog. • Established partnerships with professional software providers focused on providing students with practical learning experiences and driving digital sales growth.

Boston, Massachusetts, United States

As a product portfolio manager, I was responsible the business performance of select product lines in Houghton Mifflin’s Higher Education catalog. In addition to P&L responsibility, I was charged with driving growth through new product acquisition, launching compelling new product features, and partnering with sales teams to secure renewals and win new business. Working closely with my marketing and content development partners, I consistently achieved new product signing goals and annual portfolio sales growth targets.

Boston, Massachusetts, United States

Accountable for driving market share growth for select product line in the HM College portfolio, I worked with sales teams to qualify and close high value sales opportunities, led sales enablement and product training, and tracked customer and market trends to inform product investment decisions. In 2006, I was promoted to Senior Marketing manager and assumed additional responsibility for an expanded product portfolio.

Greater Nashville, Tn Area

Responsible for Houghton Mifflin’s business at two- and four-year institutions in Middle and Eastern Tennessee, I consistently achieved sales goals and finished in the Top Ten (second) in overall sales growth in my final year in the field. As an upcoming leader in the organization, I was selected to participate in company leadership development meetings, co-lead new sales rep training activities, and serve on internal sales advisory boards for major marketing and product development projects.