Reidy Ready to Run S&S

CBS CEO Leslie Moonves said he expects a smooth transition over the next several months as Jack Romanos turns over the CEO duties at Simon & Schuster to Carolyn Reidy, who has headed the publisher's adult publishing group since 2001. With S&S currently enjoying a run of several highly profitable years, Moonves said continuity was important in the selection of Reidy. “They're on the same page,” he said of Romanos and Reidy. Still, Moonves said, he expects Reidy to run S&S her way: “She's a different executive. I'm sure she'll do some things the same way and some things differently.” He noted that Reidy, whose career has been on the editorial side of the business, while Romanos came through the sales ranks, will likely be “more hands-on with authors” than Romanos.

Reidy said her top priority is to get to know the other parts of S&S beyond the adult group. Reidy already enjoys firm loyalty among adult group employees and will be looking for support from other S&S units. Reidy said she will “rely on the people who have taken us this far to keep us in the forefront of publishing.” Digital initiatives will continue to play an important role in the growth of S&S, and Reidy said the company will invest in projects “that push the boundaries. Some will be positive and some won't work out.” Reidy said the biggest challenge facing not only S&S but all of publishing is competition for consumers' leisure time.

Romanos will finish out the remaining three months overseeing the publication of the fall 2007 list, while Reidy focuses on planning for 2008 and beyond. During Romanos's tenure at S&S, the company grew from being a small piece of a large publishing conglomerate that included professional and educational divisions to the country's fourth largest trade house, with 2006 revenue of $807 million. To retire with S&S nearing sales of $1 billion “is icing on the cake,” he said.