Hearst Corporation has announced that Steven Swartz, president and chief operating officer of Hearst Corporation, USA, will succeed Frank Bennack as chief executive officer, effective 1 June 2013. Bennack will continue to serve as executive vice chairman of the Hearst Board of Directors and chairman of the executive committee.
Swartz was named president in December 2012, after being named COO in March 2011, and has been working closely with Bennack on building the future of Hearst.
“Steve has dedicated himself to our company for more than 20 years and during the past two years we have been working side-by-side to position Hearst for our next 100 years,” Bennack said. “I speak on behalf of the entire Board of Directors when I say we have the utmost confidence in Steve stepping into the role of CEO in June and leading Hearst into a strong future of successful media and information businesses and brands around the globe. I look forward to continuing to work with him to secure that future in my role on the Board and various executive committees.”
Swartz was president of Hearst Newspapers Division from 2009 to 2011, and executive vice president from 2001 to 2008. Prior to joining Hearst directly in 2001, Swartz was president and chief executive of SmartMoney, the magazine, website and custom publishing business launched by Hearst and News Corporation’s Dow Jones unit. Swartz had been the magazine’s founding editor since 1991. SmartMoneymagazine won two National Magazine Awards under his leadership and was Advertising Age’s Magazine of the Year.
Swartz began his journalism career as a reporter with the Wall Street Journal in 1984 after graduating from Harvard. He served as an editor on the Journal’s Page One staff from 1989 to 1991.