The CEO of Penguin Random House, Markus Dohle, is stepping down from the role. The current president and COO of Penguin Random House U.S., Nihar Malaviya, will succeed Dohle. Malaviya will serve on an interim basis starting Jan. 1.
More:
- Dohle’s resignation comes weeks after a federal judge blocked Penguin Random House from acquiring rival book publisher Simon & Schuster for about $2.18B.
- The Justice Department had argued that a merger between the two publishing giants would unlawfully limit competition and harm consumers.
- Dohle will also be stepping down from the board of German parent company Bertelsmann SE.
- In a statement, Chairman of the Bertelsmann supervisory board Christoph Mohn said Dohle more than doubled Penguin Random House revenues and quintupled its profit during his time as CEO.
- Dohle served as CEO for 15 years.