NEW YORK (AP) — The CEO of Simon & Schuster, Jonathan Karp, is stepping down from his place, however will stay with the corporate as the pinnacle of a brand new imprint.
“My north star has always been our authors and their books, and I have decided it’s time for me to return to the part of publishing that animates me the most,” Karp mentioned in an announcement Tuesday. “I remain deeply committed to our mission and am excited to remain a devoted shareholder who will support our next leader and the entire team however I can.”
Karp, 61, has had an eventful and sometimes tumultuous reign since turning into president and CEO of Simon & Schuster in 2020. His predecessor, Carolyn Reidy, had died all of a sudden and he quickly discovered himself guiding the century-old writer by way of the pandemic amid ongoing uncertainty about its possession. Mum or dad firm Paramount International’s sale of Simon & Schuster to rival writer Penguin Random Home was blocked in 2022 by a federal choose after the Division of Justice sued over antitrust considerations. In 2023, Simon & Schuster was bought to the non-public fairness agency KKR for $1.62 billion.
Authors at Simon & Schuster embody Bob Woodward, Stephen King and Colleen Hoover.
In a phone interview with The Related Press, Karp mentioned {that a} seek for his successor has begun and that he’ll keep in his present job till one is chosen. In the meantime, he’ll launch the imprint Simon Six, publishing simply six books a yr. Karp’s new job will probably be just like a earlier one: In 2005, he based Twelve, a Hachette Guide Group imprint that launched just one ebook a month. Sen. Ted Kennedy’s “True Compass” and Christopher Hitchens’ “God Is Not Great” had been amongst Twelve’s bestsellers.
As Simon & Schuster’s CEO, Karp continued to work instantly with some authors, together with former Vice President Kamala Harris for her upcoming marketing campaign memoir, “107 Days,” and a longtime favourite of Karp’s, John Irving, for his new novel, “Queen Esther.”
“I loved the challenge of being CEO, but there had to be an end point,” Karp informed the AP. “I think what every editor really wants, more than anything else, is a good ending.”
