The parent company of Penguin Random House, Bertelsmann, announced on Monday (18) that Nihar Malaviya, an Indian-origin publishing executive, has been appointed as the permanent CEO of the New York-based international publishing group. This decision comes after Malaviya served as the interim chief executive for nine months.
Malaviya, 48, took on the role of Interim CEO at Penguin Random House on January 1, 2023. He will succeed Markus Dohle, who left the position following Penguin Random House's unsuccessful attempt to acquire Simon & Schuster last year.
"Nihar Malaviya will lead Penguin Random House permanently as CEO," Bertelsmann said in a statement.
Bertelsmann Chairman and CEO Thomas Rabe said: "In Nihar Malaviya, the right leader is at the helm of Penguin Random House at the right time. Nihar has proven exactly this over the past nine months, and I am delighted that he is now taking over responsibility for Penguin Random House on a permanent basis."
Rabe said as interim CEO, Malaviya has set an important strategic course.
"Most importantly, he has transformed the structures at Penguin Random House so that the publishers and publishing groups can work more creatively and entrepreneurially. I am confident that he will continue to develop the Group with great vigour. I look forward to continuing to work with him as CEO of Penguin Random House and on the GMC," Rabe said.
Prior to his appointment as interim CEO, Malaviya served as President and Chief Operating Officer of Penguin Random House US since 2014.
During his tenure in publishing, Malaviya has spearheaded the creation of a variety of industry-first capabilities in data science, supply chain, technology, and consumer insights.
Malaviya began his career at Bertelsmann in 2001 as a participant in the Bertelsmann Entrepreneurs Programme.
In 2003, he moved within the group to Random House, successfully taking on a number of leadership positions.
Malaviya is a two-time recipient of the Bertelsmann Entrepreneur Award for Strategy Execution.
He holds an MBA in Finance and Marketing from the NYU Stern School of Business, as well as a Bachelor of Science in Computer Science.
Malaviya also serves on the board of directors of the Association of American Publishers and Yale University Press.
(PTI)
The event was hosted by Kalpesh Solanki, Group Managing Editor of Asian Media Group and President of the 100 Club. 