Hearst, the media company which has made a number of major digital moves in the last few years even as its traditional businesses are bleeding, will have a management change at the top: Victor F. Ganzi is leaving as president and CEO, reports WSJ, citing sources, and is expected to be succeeded, at least on an interim basis, by former CEO Frank Bennack Jr., who stepped down in 2002.
No reason was given for Ganzi’s departure…more as we have more.
Update: It’s official .. Ganzi has resigned and Bennack, vice chairman of the Hearst board and chairman of the executive committee, is in as CEO on an interim basis while the board conducts a search. From the release:
— “The reason for his resignation was irreconcilable policy differences with the Board of Trustees about the future direction of the company.”