David Carey stepping down as president of Hearst Magazines
Carey will serve next year as a fellow at the Harvard Advanced Leadership Initiative, a programme designed to give business, government and other leaders a platform for social-impact initiatives.
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“Under David, we have become a preeminent global digital publishing company while continuing to launch innovative print editions,” CEO Steven Swartz said in a memo to employees this morning. “Over the next few months, while continuing to run the group, David will help select the next leader of our magazine company. This kind of orderly transition is a hallmark of Hearst Magazines.”
Read the memo
Dear Colleagues,
Some news to share today: This week we will start a long-planned succession process at Hearst, as I will step down from my current position as head of Hearst Magazines at year end and move into a chairman’s role for 2019.
For some time, I have shared with Steve Swartz my goal to retire as president of Hearst Magazines in 2019 after serving for nearly nine years. I will be working with Steve, Frank, Mark and our Board on the succession process, which will conclude in the coming months.
For those who have patiently endured my discussions about “doing well by doing good”-which Hearst so embodies-you won’t be surprised by my plans for 2019: In addition to helping my successor take charge of our complex business, I will become a Fellow in the Harvard Advanced Leadership Initiative, a cross-University program designed around social impact, taught by professors from the graduate schools of business, education, health, law, policy, and more. This will place me in a unique academic environment in Cambridge during the spring and fall (more about ALI here).
I have learned so much since I re-joined the company in 2010 and have been fortunate to be part of the very special Hearst culture, to serve with Steve, Frank and other executives at the corporate level, and to work alongside so many talented people in the global magazine company.
I’m proud of our collective performance during a period of broad media sector change. Thanks to you, we have outperformed our peer set, completed acquisitions large and small, constantly reimagined our print business models, built a highly profitable digital business, launched many new joint ventures, more firmly linked our U.S. and international owned-and-operated units, and further diversified our B2B operating companies.
Of course, 2019 and this transition is still a long way off, and today it’s 100% business as usual, as we focus on wrapping up another good year for Hearst Magazines’ units around the world.
Thank you,
David Carey
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