Random House boss to be let go
Random U.S., that is. According to a New York Times report, Random House CEO Peter Olson is being replaced and will officially step down over the next few weeks.
Mr. Olson, who has run Random House, the world’s largest consumer publisher, since 1998, has come under mounting pressure in recent months as Bertelsmann’s financial results have been damaged by lower profits at Random House and steep losses in its American book clubs, which he also oversees.
Bertelsmann’s recently-appointed chief executive, Hartmut Ostrowski, has lost patience with the performance of this American outpost and wants to install his own person, said these executives, who spoke on condition of anonymity because it involved internal personnel issues.
“Outpost”?
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