Matthew Shear, who as senior v-p and publisher for St. Martin’s paperbacks and reference group oversees all of SMP’s paperback operations, has been promoted to executive v-p and publisher, extending his responsibilities to overseeing SMP’s hardcover program as well. Shear will continue to report to SMP president and publisher Sally Richardson. Shear told PW he and Richardson “will in affect be co-publishers” for the entire SMP list and will continue to complement each other’s strengths.

In the memo announcing the promotion, Macmillan CEO John Sargent said that while having a structure “with two publishers in the same company is a bit unorthodox, I believe it truly reflects how they work together.” Shear and Richardson have worked together as SMP for 15 years. In his memo, Sargent cited Shear’s “knowledge of the marketplace, relationships with authors and agents and his sheer belief in the books” as a critical factor in building SMP.

Shear said no other changes are in the works. SMP, he said, will “work to continue to bring in as many bestselling authors as we can. We’ll continue to push the envelope.”