Jr.">March 28, 2013, New York, USA – Hearst Corporation announced that Steven R. Swartz, president and COO of Hearst Corporation, will succeed Frank A. Bennack, Jr. as CEO, effective June 1, 2013.[break]
Mr. Bennack is in his second tenure as CEO and in his first, served as Hearst's CEO for more than 23 years. He is also presently executive vice chairman of the Hearst Board of Directors and chairman of the Corporation's Executive Committee.
Mr. Bennack is also a director of Hearst Corporation and a Trustee of The Hearst Family Trust established under the Will of William Randolph Hearst. In addition, he sits on a number of corporate committees and the Hearst Foundation boards, where he has served for more than 35 years.
Under Mr. Bennack's leadership, the company launched with ABC three leading cable networks, A&E, History and Lifetime, plus its investments in the ESPN family of networks.
On his watch, Hearst acquired 11 newspapers, including two of the nation's largest, the Houston Chronicle and the San Francisco Chronicle, two trade publishing companies, three major consumer magazines, a television production operation, various syndication and distribution businesses and multiple television stations. During his tenure, Hearst has launched such magazines as Country Living, O, The Oprah Magazine, Marie Claire and SmartMoney.
In 2009, he directed a merger between Hearst Broadcasting and Hearst - March 28, 2013, New York, USA – Hearst Corporation announced that Steven R. Swartz, president and COO of Hearst Corporation, will succeed Frank A. Bennack, Jr. as CEO, effective June 1, 2013.
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Mr. Bennack is in his second tenure as CEO and in his first, served as Hearst's CEO for more than 23 years. He is also presently executive vice chairman of the Hearst Board of Directors and chairman of the Corporation's Executive Committee.
Mr. Bennack is also a director of Hearst Corporation and a Trustee of The Hearst Family Trust established under the Will of William Randolph Hearst. In addition, he sits on a number of corporate committees and the Hearst Foundation boards, where he has served for more than 35 years.
Under Mr. Bennack's leadership, the company launched with ABC three leading cable networks, A&E, History and Lifetime, plus its investments in the ESPN family of networks.
On his watch, Hearst acquired 11 newspapers, including two of the nation's largest, the Houston Chronicle and the San Francisco Chronicle, two trade publishing companies, three major consumer magazines, a television production operation, various syndication and distribution businesses and multiple television stations. During his tenure, Hearst has launched such magazines as Country Living, O, The Oprah Magazine, Marie Claire and SmartMoney.
In 2009, he directed a merger between Hearst Broadcasting and Hearst-Argyle Television resulting in Hearst-Argyle becoming a wholly-owned private subsidiary of Hearst Corporation. Mr. Bennack was an original board member of Hearst-Argyle Television, and before being named chairman in 2008 was presiding director. Hearst folded its television holdings into Hearst-Argyle Television in 1997, forming a public company.
Prior to his first tenure as chief executive, Mr. Bennack served as executive vice president and chief operating officer of the Corporation and, prior to that, as vice president and general manager of the Hearst Newspaper Group. He also served in a variety of management posts, including a seven-year tenure (1967-1974) as publisher and editor of the San Antonio Light.
Mr. Bennack is a director of Polo Ralph Lauren Corporation. He is chairman of The National Magazine Company Limited of Great Britain, a wholly-owned subsidiary of Hearst Corporation. Mr. Bennack was the 1992-93 chairman of the Newspaper Association of America (formerly the American Newspaper Publishers Association).
Mr. Bennack has received honors for his charitable work from such organizations as the American Heart Association, United Cerebral Palsy and the Inner City Scholarship Fund of New York.
His industry awards include the Gold Medal from the International Radio & Television Society in 1991, the Trustees' Award (Emmy) from the National Academy of Television Arts and Sciences in 1993, the 1997 Center for Communication Award, the Distinguished Public Service Award from the Advertising Council in 1999, and the 1999 Distinguished Service Award from the National Association of Broadcasters. In 2007, he was elected into the American Academy of Arts and Sciences.
Mr. Bennack will continue to serve as executive vice chairman of the Hearst Board of Directors and chairman of the Corporation's Executive Committee. In addition to his role on the Board and as chairman of the Executive Committee, he remains a trustee of the trust established under the will of William Randolph Hearst and a member of numerous corporate committees and the Hearst Foundations Boards, where he has served for more than 35 years. His combined 28-year tenure leading the 126-year-old company is the longest of any chief executive other than William Randolph Hearst himself.
Mr. Swartz was named president in December 2012, after being named COO in March 2011. Before his promotion to COO, Mr. Swartz was senior vice president of the Corporation and president of Hearst Newspapers. In that role, he oversaw Hearst’s 15 daily newspapers, dozens of weekly papers and digital marketing services company LocalEdge.
Mr. Swartz was president of Hearst Newspapers Division from 2009 to 2011, and executive vice president from 2001 to 2008. Prior to joining Hearst directly in 2001, Mr. Swartz was president and chief executive of SmartMoney, the magazine, website and custom publishing business launched by Hearst and News Corporation's Dow Jones unit.
Mr. Swartz had been the magazine's founding editor since 1991. SmartMoney magazine won two National Magazine Awards under his leadership and was Advertising Age's Magazine of the Year. ■