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Hearst Ceo Steps Down Too

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by Jeff Bercovici
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Jun 18 2008 12:00am EDT

Hearst CEO Steps Down, Too

First it was Hachette's Jack Kliger. Now Victor Ganzi, president and CEO of the far larger Hearst Corp., is also exiting his job, which he's held since 2001. "The reason for his resignation was irreconcilable policy differences with the Board of Trustees about the future direction of the company," said the company in an unusually frank press release. (Does that make Ganzi Ryan O'Neal or Shelley Long?)

Frank Bennack, who preceded Ganzi as CEO, will return as interim CEO while a search committee appointed by the board of directors "explore[s] a full range of options to identify who will lead Hearst Corporation in a dynamic and evolving media marketplace.". □

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