LJNDawson.com, Consulting to the Book Publishing Industry
Book Publishing Industry Consultant

Peter Olsen out at Random

The Times just reported that Peter Olsen will be stepping down from Random House's helm "in the next few weeks." CEO since 1998, Olsen "has come under mounting pressure in recent months as Bertelsmann?s financial results have been damaged by lower profits at Random House and steep losses in its American book clubs, which he also oversees."

Ironically, Olsen had dismissed Ann Godoff in 2003 for similar reasons, "saying in a news release that she ran the only unit 'to consistently fall short of their profitability targets.' In an interview, he said it would have been disingenuous to attribute her exit to other reasons."
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