Children's book editor and publisher Walter Lorraine will retire at the end of the year, following a 55-year career in children’s books with Houghton Mifflin. He joined the company after graduating from the Rhode Island School of Design, and rose in the ranks, directing its children’s trade division for many years and ultimately becoming publisher of his own imprint. He has worked with many award-winning authors and illustrators, including David Macaulay, Chris Van Allsburg, Scott O’Dell and Lois Lowry. “It is nearly impossible to overestimate the impact, both creative and commercial, that Walter Lorraine had upon the success of children’s book publishing at Houghton Mifflin,” said Betsy Groban, v-p and publisher of the children’s division. “He is one of the most important figures in the history of children’s books, and we are fortunate that he chose to spend his illustrious career with the company.”