Mags Oust CEOs as they Struggle to Compete in a Digital World
In just a week’s time, the magazine business has waved goodbye to three top execs; leading many to speculate that their departures have to do with magazines’ struggle to keep up. The industry is having a tough time adapting to the slowing economy and the changes that traditional media is being forced to make. First, Martha Stewart Living Omnimedia said goodbye to Susan Lyne. Then Jack Kliger was kicked out of his CEO role at Hachette Filipacchi Media. And finally, Victor Ganzi stepped down as president, CEO, and director of Hearst Corp. Many of the changes are being blamed on differing opinions about how to adjust to a rapidly changing industry. Business can’t be done as usual and if you try to do that, board members are going to second-guess you. MediaWeek (June 23, 2008)
Tags: digital world, economy, Ganzi, Hachette Filipacchi Media, Hearst Corp., Kliger, lyne, Martha Stewart Living Omnimedia