New management structure is announced for Hearst
Three longtime Hearst executives have been elected executive vice presidents of the corporation: Mark Aldam, who also assumes the title of chief operating officer; Rich Malloch, who becomes EVP for Business Media, and Mitch Scherzer, who adds EVP to his existing title of chief financial officer.
In addition, Eve Burton becomes chief legal officer as Jim Asher is giving up that role to focus on his duties as chief development officer.
In making the announcement, Hearst President & CEO Steven R. Swartz said: "Following Rich Malloch's move to an EVP role, we are establishing a new structure for our Business Media assets, dividing up the current group's component parts and creating two new operating groups: Fitch Group, with President and CEO Paul Taylor serving as group head, and Hearst Health, with President Greg Dorn, M.D. serving as group head. Our transportation assets, CAMP, Black Book and MOTOR will function as standalone entities reporting to Rich. Thus, while we will continue to track our aggregate efforts in business data and software under the label Business Media, we will no longer have an operating group by that name."
Jeff Johnson, president and publisher of the San Francisco Chronicle, becomes president and group head for newspapers.
Abbe Raven, the former president and CEO of Hearst's A+E Networks, will join the company March 1 as special advisor to the CEO, sharing that role with Lincoln Millstein, who is retiring from full-time employment at Hearst on March 31.
Swartz said, "Under the new structure, Mark Aldam, as chief operating officer, will serve as my principal deputy on the day-to-day activities of the company."