Wolters Kluwer CEO Nancy McKinstry shares her insights on 20 years of leadership with De Telegraaf

In a recent interview with the Dutch daily De Telegraaf, Nancy McKinstry, CEO and Chair of the Executive Board, Wolters Kluwer, shared her experiences and insights from her twenty-year tenure at the helm of the company. As the longest-serving CEO in the AEX index, Nancy McKinstry's leadership has seen Wolters Kluwer's market value increase nearly tenfold, a testament to her strategic vision and adaptability in an ever-changing business landscape. Below is a translated version of the article. The original Dutch article can be accessed on De Telegraaf’s website here. 

Wolters Kluwer CEO Nancy McKinstry: 'I'm still learning every day'

Nancy McKinstry is the longest-serving CEO of a company in the AEX index. The American has been at the helm of Wolters Kluwer for twenty years. Although the results don't lie, she too has concerns, especially in these times with wars and rapid technological change. "Entrepreneurs are facing a lot right now," she says.

On the day storm Ciarán swept across the Netherlands, Wolters Kluwer's headquarters in Alphen aan den Rijn offered a deserted impression as employees were asked to work from home. But the bad weather does not affect the mood of the optimistic McKinstry. Under her leadership, Wolters Kluwer's stock market value has grown nearly tenfold over the past two decades.

What is the secret recipe for your success as CEO?

"Preparation. I get up between five and six every morning and make sure I've read everything before I go into a meeting. So my colleagues also know to be well prepared. The advantage of that is that we can have discussions more easily, make decisions faster, and therefore also need fewer meetings. By the way, I really love what I do. I learn something new every day from our 21,000 employees. Our goal at Wolters Kluwer is also to learn. Because if there is a problem, we come up with a solution and immediately test it with our customers. As a result, we can then come up with an even better solution."

Technology is becoming increasingly important to Wolters Kluwer. How is working at your company now different from when you took office?

"In 2003, we were largely a publisher of paper books and magazines. Those have a production time of up to two years, where there is often only contact between a writer and an editor. Today, the digital solutions we offer our clients are developed in teams with techies, developers, marketing managers and salespeople. By the way, paper products are still in our portfolio. I wouldn't have thought that twenty years ago."

Many of Wolters Kluwer's digital products use artificial intelligence. Can you give an example of that?

"We have a solution that helps lawyers determine at which court they are most likely to be successful with a particular case. In doing so, we do indicate how we arrived at such a research result."

Are you currently concerned about anything?

"We have seen in recent years that you cannot prepare for everything. First it was Covid, then the war in Ukraine broke out, and now you have the conflict in the Middle East. In addition, technological changes are moving very fast for entrepreneurs. So this group has a lot to deal with to get everything right. I think a lot about how to respond to this and how we can prepare. But at the same time, our business has never been better than it is now."

What is one lesson in times of crisis that we can learn from your experience at Wolters Kluwer?

"What I have learned is to think during a crisis: are we setting the right priorities within our company for now, is our vision in order, do we have the right resources to do our job? But communication to and with our employees is also hugely important. We did a lot during Covid to make sure our people were safe and kept in touch a lot. I'll never forget the big smiles on people's faces when we were allowed back into the office."

Was Covid a problem that you also saw as an opportunity?

"We turned out to be good at helping in that crisis. One of the problems hospitals had was that there were not enough nurses to work in these special Covid units. So we immediately developed a training program to train them online so that more patients could be helped. So yes: what is the problem, what can we do, when and how can we deliver that? And in our Financial & Corporate Compliance division, we deployed technology to help preserve nearly 10 million American jobs by enabling banks and credit unions to expedite Paycheck Protection Program (PPP) applications. This way of working is in our DNA."

We are at your headquarters in Alphen aan den Rijn. Is the Netherlands still a good place for Wolters Kluwer?

"Wolters Kluwer has been in this country for 187 years, we have no plans to change that, although everyone is currently talking about Dutch legislation that could be detrimental to business. We are certainly keeping an eye on that."

Wolters Kluwer has a new division: Corporate Performance & ESG. What do you expect from it?

"We already had activities that helped clients report on topics such as sustainability, finance, tax and employee health and safety. With us, those components were spread across three divisions. We often got requests from clients if we could help them with certain reporting. We have now merged those components into one division."

You are 64, you have been in charge for 20 years, how do you see your future at Wolters Kluwer?

"Although I am a planner, I do not have a plan for this topic: we have not agreed on a date when I will retire. We do have succession scenarios, but we have that for all our people. As long as I am of value to our customers and employees, I am happy to continue working. The most important question is: Do you get the work done? As long as I can deliver, I can do this job. I am in good health, and have the energy for it. I also get that back from work, so that's a self-feeding mechanism. And I'm a big believer in living and enjoying the moment."

You do yoga, did you learn the latter in the process?

"Absolutely. I love Ashtanga and if you don't focus on breathing, you literally fall over. It makes your brain learn that you are giving yourself completely in that moment, very healthy. You don't even think five minutes ahead."

What do you do on your Saturday off?

"I really enjoy cycling on my mountain bike, as well as taking a spinning class. And besides yoga, I love walking the dog. I also read a lot, preferably nonfiction. I just finished reading the book 'Lessons in Chemistry' in two days, highly recommended. And I do my shopping at the market on Saturdays, to cook delicious meals in the evening. Then on Sunday I do get back to work, preparing for work. Then the week literally comes full circle again."