With all government approvals in, Bertelsmann and Pearson moved quickly to complete the merger of Random House and the Penguin Group, finalizing the deal July 1 just as the second half of both companies' fiscal year began. As has been reported, John Makinson is chairman of Penguin Random House and Markus Dohle is serving as CEO.
While many details still need to be worked out, the completion of the deal led to a number of key appointments. In addition to being CEO of PRH worldwide, Dohle is CEO of the U.S. group. Other appointments, as outlined in a memo to employees from Dohle, are below.
As outlined by its parent companies, PRH will have over 10,000 employees worldwide and publish more than 15,000 new titles every year across 250 imprints. It is estimated that the new trade publishing powerhouse will have annual revenue of $3.9 billion. Dohle noted that with both RH and Penguin performing well he plans to take his time in implementing the integration of the companies. He said in his memo that during his conversations with staff members that he was encouraged by the commitment to publish books of every type and format and to publish books across a wide spectrum of ideas.
Here are the appointments as written in Dohle's memo:
Coram Williams, previously CFO for the Penguin Group, also serves in a dual capacity as Chief Financial Officer for Penguin Random House, in the U.S. and worldwide. In the U.S., Coram will also oversee Random House Studio, corporate services, and our self-publishing business, Author Solutions.
David Shanks has stepped down as CEO, Penguin Group (USA), and is now Senior Executive Advisor to me and the U.S. executive team. He will play an instrumental role in bringing our two companies together.
Madeline McIntosh, formerly Chief Operating Officer, Random House U.S., is now President and Chief Operating Officer of Penguin Random House in the U.S., overseeing sales, operations, fulfillment, IT, and digital companywide.
Also in the U.S., Kathy Trager is named Executive Vice President and General Counsel.
Brad Martin, formerly President and CEO of Random House of Canada, is now CEO of Penguin Random House in Canada.
Tom Weldon assumes responsibility for Penguin Random House in the U.K. as CEO. He was previously Chief Executive Officer, Penguin Group UK.
Gail Rebuck is named Chair of the Penguin Random House UK Board. Ian Hudson will serve as Deputy CEO of Penguin Random House UK, a position he previously held at Random House UK. Separately, he will oversee Penguin Random House’s operations in Australia, New Zealand, India, South Africa, and Asia in his capacity as Chief Executive Officer, Penguin Random House International (English Language).
Gabrielle Coyne will be CEO of Penguin Random House Asia Pacific, and Gaurav Shrinagesh will be CEO of Penguin Random House India. Coyne previously served as CEO of Penguin Group Asia Pacific, and Gaurav as Managing Director of Random House India. Stephen Johnson will continue to lead Penguin Books South Africa. They will all report to Hudson.
Also, continuing in their current capacities:
Núria Cabutí, Chief Executive, will lead the company in Spain and Latin America, where it will operate under the name Random House Mondadori.
John Duhigg, Chief Executive, Dorling Kindersley, is responsible for the Dorling Kindersley (DK) business worldwide.
I am pleased to announce the appointments of three executives with Penguin Random House global and U.S. corporate responsibilities: Frank Steinert will be the company’s Chief Human Resources Officer, Stuart Applebaum will lead communications, and Milena Alberti will oversee corporate development, each having served in similar capacities at Random House.
I am also excited to announce the newly formed Penguin Random House Global Executive Committee that will set the company’s worldwide strategic, operational, and publishing direction and priorities. The Committee’s members are:
Núria Cabutí; Gina Centrello, President and Publisher, Random House Publishing Group; Tony Chirico, President, Knopf Doubleday Publishing Group; Gabrielle Coyne; John Duhigg; Leslie Gelbman, President, Mass Market Paperbacks, Penguin Group U.S.; Ian Hudson; Barbara Marcus, President and Publisher, Random House Children’s Books; Brad Martin; Maya Mavjee, President and Publisher, Crown Publishing Group; Madeline McIntosh; Sonny Mehta, Chairman and Editor-in-Chief, Knopf Doubleday Publishing Group; Susan Petersen Kennedy, President, Penguin Group U.S.; Andrew Phillips, Chief Executive Officer, Author Solutions; Frank Steinert; Don Weisberg, President, Penguin Young Readers Group U.S.; Tom Weldon; and Coram Williams.
This team shares my vision for Penguin Random House and the passion for publishing excellence that has always been a trademark of the Penguin and Random House brands. I know that John Makinson, Chairman of Penguin Random House, joins me in complete support of this outstanding leadership group. I look forward to all that we can accomplish together.
Moving ahead, let’s continue to focus on doing what we love and do so well: publishing great books with creativity and excellence.
Over the coming weeks, I will be visiting as many of you as I can to discuss our new company and answer your questions. In the meantime, please consider the opportunities and challenges ahead. I encourage you to contact me directly with questions and ideas at email@example.com. And please explore the Penguin Random House employee site we’ve created to provide you with interesting and timely information about our new company.