Owner Robert Allbritton, who has been filling the role since the departure of Jim VandeHei in early 2016, will return to his role as publisher and executive chairman. Steel will assume his new duties on May 8. See the memo to staff from Allbritton and editor-in-chief John Harris below:
This is a big day for POLITICO and we wanted you to hear directly from us some important news before the press release pasted below is sent out.
There will be plenty to talk about in the coming days, but first we wanted to tell you that POLITICO’s next CEO is Patrick Steel, who is leaving a successful 16-year career at the investment bank of FBR & Co. to join us on May 8.
Patrick is right for POLITICO for these primary reasons:
First, his experience and expertise for the past 16 years has been in helping recognise companies that are poised for dramatic growth both domestically and overseas, and helping their management teams organise to achieve their potential. As Patrick said to us yesterday, “I know what a company is supposed to look like, be like, and smell like to succeed.”
Second, his conversation made clear that one of his core values is the importance of great teamwork. Patrick will report directly to Robert and he will work closely with our team, both here in the states and across the globe.
Third, Patrick is intensely competitive. Like all great POLITICOs, he loves to win and has years of experience helping companies do that. He is going to use that drive to represent our business in front of important constituencies in Washington and around the world.
And last, but certainly not least, Patrick understands that the heart and soul—the power— of POLITICO rests on great, indispensable journalism and the global impact of our reporting. You’ll be hearing from Patrick in the coming days. And you’ll be hearing plenty from us, too. Patrick’s arrival allows us to engage with the big questions—how can we grow a publication that has more impact in more places with more products—for a long time to come.
His arrival adds unique insight and skills to a leadership team that has taken vast strides over the past year under President Poppy MacDonald and CFO Vinay Mehra.
Thanks very much, and let’s get to work!
Robert & John
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