Hearst CEO Steps Down

Cites irreconcilable policy differences.

After six years as chief executive officer of Hearst Corporation, Victor F. Ganzi has resigned from the company. The reason behind his resignation was irreconcilable policy differences with the board of trustees about the future direction of the company.

The board has formed a search committee to find a new ceo but in the meantime, Frank A. Bennack Jr., vice chairman of the board and chairman of the executive committee, will reassume the role of ceo.

“It has been an honor leading this company and working with such talented people throughout the organization over the past 18 years—and the last six as ceo,” said Ganzi. “Based upon 15 record profit years out of the last 16, Hearst is well-positioned to extend its leadership in the media industry in the future. I will work with the company to ensure an orderly transition of leadership.”