Lagardere executives are moving out Alain Lemarchand as president and CEO of HFMUS, the magazine publisher of Elle, Woman’s Day and Car and Driver, and are moving in former president of Primedia (NYSE: PRM) Enthusiast Media and Source Interlink Steve Parr to replace him. Parr’s hiring is billed as the next step in a multi-year plan for HFMUS after the restructuring and cost-cutting that began under Lemarchand, who was installed in the post two years ago.
So with costs under control, Parr’s job will be to focus on building market share for all the publisher’s various brands, but with particular attention to its strongest title, Elle. Secondly, he is charged with ramping up digital development in automotive through the Jumpstart Automotive Group and women’s segments (including Woman’s Day). On top of that, he will be expected to come up with a plan to create a profitable marketing and revenue growth strategy that involves integrating print and digital, while increasing general profitability.
Given ad recovery, these tasks might not seem as impossible as they might have last year. But the print mag business is still struggling to a large degree as revenues and profits are generally down from where they were a few years ago.
Parr does have a long and distinguished publishing track record. Over the last 25 years, he has held a number of executive publishing posts, including several senior roles within Pearson PLC (NYSE: PSO) operating companies in Canada, England and the U.S. He started his career in magazine publishing and became President of Emap USA, President of Primedia Enthusiast Media and, most recently, President of Source Interlink Media.
The company said that Lemarchand take on a new senior management position within Lagardere Active, effective October 1. He was previously Directeur Général Délégué at Lagardère Active, before he was tapped to replace Jack Kliger, who had served as CEO of HFMUS for nine years. Kliger was promoted to chairman after being replaced by Lemarchand, but went on to leave HFMUS and last summer, took over at TV Guide. Release