Tuesday, September 11, 2012

Pietsch Will Take Over As Hachette US CEO Next Year As Young Returns to UK; Remains Chairman and Takes On Other Lagardere Roles


PublishersLunch
Hachette Book Group USA has announced their succession plan as chairman and ceo for the past seven years David Young prepares to return to the UK next year to rejoin his family (who relocated back there some time ago). As of April 1, 2013, Young will relinquish the post of ceo, while remaining as chairman. Thereafter, Young expects to be in the US approximately one week a month.

Little, Brown publisher Michael Pietsch will take over as ceo of HBG USA on April 1, 2013, still reporting to Young--though he will have "full responsibility for the company’s profitability and direction." His first priority in advance of assuming the new position six and half months from now is to "begin immediately the search for a new publisher for the division that he has led for the past 11 years." Pietsch tells us he is "looking for someone who has a great eye for talent and an ability to persuade authors and agents that they will be warmly cared for and published with enormous vigor and originality," as well as finding someone who excels at "publishing across a very broad range of books," as Little, Brown has.

Pietsch is working with James Patterson—whom he has edited for years—"on finding an editor who he enjoys working with and trusts," and hopes to transition the other Little, Brown authors he edits personally to other editors at Little, Brown before next April.

More broadly, as he prepares to take over as ceo, Pietsch "plans to bring the skills I've developed as a publisher and apply them to this company in every way that I can"—which includes ensuring that HBG is "the best house for attracting authors and agents, and using every marketing opportunity that we have in our hands." Pietsch also underscores, "We have an agenda to grow, which David has already begun and I will be working to carry on."

As part of the transition, HBG chief operating officer Ken Michaels adds the title of president, effective immediately. Young notes the promotion "recognizes formally his great contribution to the company in terms of systems development, the manner we're distributing books both physically and digitally" and more. Also, "Michael will have him next door, knowing that he has a senior guy looking after stuff that he doesn't have to worry about." As part of that growth agenda, Young notes "it's important that we continue to expand our array of distribution clients," which is an area that Michaels has overseen.

Pietsch will be Young’s only report in his chairman role next spring (and Young will continue to report to Hachette Livre chairman Arnaud Nourry). "I'm there are a resource for him. I don't want him to have to learn the four decades of supply chain metadata absorption that I have."

Two months after the HBG USA transition, as of June 2013, Young will also become deputy chief executive of Hachette UK and ceo of Hachette UK division Orion, reporting in that capacity to Hachette UK ceo Tim Hely Hutchinson. Peter Roche, who currently holds those positions, will be retiring. Young says he is "thrilled for the honor of taking over the role" and notes it "will be an interesting challenge getting back into the very tough UK market."

Globally, Young will head Hachette Livre's chief operating officers' council, covering France, UK, USA and Spain, "to help all parts of Hachette Livre benefit from his understanding of the publishing processes, systems, and efficiency" and to "bring some enterprise solutions to the benefit of Hachette Livre." It has been run less formally as "a peer group." In that new capacity, he also reports to Nourry.

In the announcement, Nourry notes: "David Young took over as CEO at a time when the company didn't have a home or even a name—and brilliantly led the building of Hachette Book Group.... Working with a great team of executives leading every department and division, he oversaw a transformation into best-in-class modern publishing, underpinned by superlative systems and communications.... I am thrilled that he is staying with Hachette and that I will get to continue my close relationship with him." Nourry adds: "It also pleases me immensely to be able to fill the important and challenging role of HBG's ceo from within the company.  Michael Pietsch is a superb publisher and I cannot wait to see all he will accomplish as he brings those skills to the larger role of CEO."

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