The FT has a long piece on Bertelsmann ceo Thomas Rabe as he “grapples with string of failed deals and staff unhappiness.” They lead: “Some staff at Europe’s biggest media group Bertelsmann have a cruel new nickname for its chief executive Thomas Rabe: ‘Rabenvater’ — raven father. The German term, a pun on Rabe’s surname, refers to a hard-hearted man who neglects his children.” The criticism comes following three uncompleted M&A deals — the most expensive of which was the blocked acquisition of Simon & Schuster — and was further inflamed by the severe cutbacks to Gruner + Jahr. “He […]
Personnel
PRH Announces Reorganization, Creates Independent Crown Group Again
Penguin Random House announced a reorganization that will expand the number of adult publishing divisions from three to four, separating back out Crown Publishing Group from Random House Publishing Group. Interim ceo Nihar Malaviya writes, “Books and the people who make them are at the heart of what we do. Our editors’ ability to aggressively pursue the works they are most passionate about, and the autonomy and independence of our divisions and imprints, is what drives our business and ensures our success.” (Crown had been merged into the RH Group in late 2018.) Sanyu Dillon moves over to serve as president […]
Non-Union Harper Employees Discuss Workload, In-House Morale, and Solidarity
As the Harper Union marks its 64th business day picketing outside of the company’s financial district headquarters, many non-union employees inside the building feel similarly disheartened and burned out as they take on the jobs of striking colleagues in addition to their own hefty workloads, and process the news that 5 percent of their number will be laid off by the end of June. PL spoke to non-union (and non-executive) Harper employees in various book-facing departments, who asked to remain anonymous, about their experiences during the months of the strike. Employees report that they’ve been working late nights and on […]
PRH US CEO Madeline McIntosh to Step Down
Madeline McIntosh will step down as ceo of Penguin Random House US after a transition period, she announced to staff in a memo on Tuesday. She wrote: “I am stepping down from my position as your U.S. CEO. I’m not leaving right away; instead, Nihar [Malaviya] and I are working very closely together to determine the best plan for the U.S. organization going forward. I know you’ll be in good hands with Nihar and the U.S. Board. They know and love this business as much as I do. For the time being, all remains as usual.” Malaviya was elevated to […]
HarperCollins to Cut Five Percent of North American Employees
HarperCollins ceo Brian Murray announced in an internal memo that the company will implement both job reductions and cost cutting between now and the middle of the calendar year (which is when Harper’s fiscal year ends). A spokesperson confirmed that, “In addition to implementing a variety of cost-saving measures, we will be reducing our workforce across North America by 5% before the end of the fiscal year.” Some employees were told they were being laid off yesterday Murray wrote, though apparently additional reductions are still to come. Reportedly, the layoffs included a senior sales staffer and four positions in the […]
People: Gina Centrello to Retire from Random House Group
Longtime president and publisher of the Random House Publishing Group Gina Centrello has decided to retire from her position. She will take the new role of strategic advisor to the US Board going forward, and “will continue to participate actively in the industry through her work supporting Literacy Partners.” PRH US ceo Madeline McIntosh writes, “I’ve valued Gina as a friend and colleague for more than two decades, so I’m having a hard time imagining this place without her–and I know I’m not alone in that.” One of the company’s longest serving top executives, Centrello has led the Random House Group […]