Renaissance Learning CEO resigns to start company

Wisconsin Rapids, Wis. — Renaissance Learning, which makes computerized assessment and progress monitoring tools for pre-K-12 schools, said late on Wednesday that president and CEO John Hickey, 50, has resigned. He had been president since 1996 and CEO since 2003.

"There is never a right time to make a change like this," Hickey said in a press release. "I know some people will be surprised, but to start a new company of my own is something I have been thinking about for some time. At 50 years of age, I'm still young enough to accomplish that dream."

Husband-and-wife team Terrance and Judith Paul, who were co-chairs of the company, have stepped into new leadership positions. Terrance Paul will be president and CEO. He was previously CEO for about a year before Hickey was given that role. Judith Paul will be the company's chairperson.

"John has been a key strategist for the company's growth, and has led the company through some tough market conditions while laying the foundation for future growth," Terrance Paul said in the press release. "We were fortunate to have him as president and then CEO for nearly 10 years."