Penguin Profits Dip
Total sales at Penguin Group rose to £1.05 billion in 2012, up 1% from the previous year, although operating profit declined 12%, to £98 million. Figures benefited slightly from currency exchange fluctuations. Penguin chairman John Makinson said a strong second half of 2012, led by a “really good” fourth quarter around the world, helped to overcome a soft first six months.
Hastings Names Van Ongevalle President
Alan Van Ongevalle has been promoted to president and chief operating officer of Hastings Entertainment. He previously served as executive v-p of merchandising and held various management positions since joining Hastings in 1992.
D&M Alums Start New House
Three former executives with Canada’s D&M Publishing have launched a new company focused on illustrated books called Figure 1 Publishing. The move comes after D&M filed for bankruptcy in the fall. Figure 1 founders Chris Labonté, Peter Cocking, and Richard Nadeau will be publishing in print and digital formats, and will use a hybrid business model.
Martin Named Gallery V-P
Michele Martin will join Gallery Books Group as v-p and associate publisher, reporting to Louise Burke beginning March 4. Martin has been with Simon & Schuster before, from 1994–1999, when she held the position of v-p, associate publisher of the Simon & Schuster imprint. Most recently, she ran MDM Management, which will now be assumed by CSG Literary Partners.