Thursday 27 July 2017

New York Times CEO Janet Robinson Steps Down, Without Explanation

The New York Times Co.'s Chief Executive Janet Robinson resigned unexpectedly as chief executive of the New York Times Co at the end of the month after a seven-year run in which she attempted to steer the company through one of the harshest business environments it has ever faced.

New York Times CEO Janet Robinson Steps Down, Without Explanation

Janet Robinson

The company will begin a search, "both internally and externally," for Ms. Robinson's replacement, Mr. Sulzberger wrote in a memo to employees.

Ms. Robinson, who had been CEO since 2004, has overseen the publisher during historic declines in advertising that led the company to sell assets, borrow money and suspend the dividend that helped support many members of the Sulzberger family, which controls the company. "I know that I am leaving the Company in the best position possible," she said in a memo to employees. She couldn't be reached for further comment.

In a recent interview, Robinson said she considered it a “mandate to increase shareholder value,” but argued she had done so through building a “multiplatform company” even during a period of “economic uncertainty and secular pressures.”

Within the New York Times‘ newsroom, word of the shakeup began to spread about 20 minutes before the announcement.