John Makinson will retire as chairman of Penguin Random House at the end of the year, and will be succeeded by Philip Hoffman.

Makinson had been CEO of the Penguin Group prior to its merger with Random House. Following the merger, Makinson was named chairman of the trade publisher and Markus Dohle, CEO of Random House, took over that role at PRH. Penguin parent company Pearson owns 47% of PRH, while RH parent company Bertelsmann owns 53%.

Hoffman will take over as chairman of Penguin Random House on January 1, 2017. Hoffman has served on the Penguin Random House board of directors since the company was formed in 2013. He has also been chairman of the Audit Committee. Hoffman has worked for Penguin and Pearson in numerous leadership positions over the last 27 years, including the Pearson PLC executive committee.

Bertelsmann chairman and CEO Thomas Rabe hailed Makinson’s tenure as chair, thanking him for “his outstanding contribution to the Penguin Random House success story over the past few years. The smooth integration of the two companies, the ongoing development of Penguin Random House, and many of the company’s successes would have been inconceivable without him.”

Pearson CEO John Fallon also praised Makinson. “John Makinson spent a decade leading the creative and commercial resurgence of Penguin, and the last four years ensuring the tie up with Random House builds on that success.” Fallon added, “John has proved himself to be a highly talented and inspirational colleague for all seasons—distinguished journalist, finance director, publishing executive and leader, highly regarded by his colleagues and industry peers. We thank him for all his work on Pearson's behalf and wish him every future success."

“I am delighted to be taking on the role of Chairman of Penguin Random House,” Hoffman said about his appointment. “Since my days at Penguin, book publishing has always been close to my heart. As a member of the Penguin Random House Board these past three years, I have really enjoyed working with Markus Dohle and his team, and I look forward to plugging in more deeply with them to help drive the continued success of this amazing company.”