- Push-out Score determined
- After almost eight years in the position
- Accolades, praise and thanks for Thompson
- Meredith Kopit Levien taking over
- Thompson spoke at length and said 143 words
(exechange) — New York, July 22, 2020 — Mark Thompson, chief executive of New York Times, leaves. As announced by New York Times Co. in a news release and in a regulatory filing published on Wednesday, July 22, 2020, Mark Thompson leaves his post as chief executive officer at the mass media company after almost eight years in the role, effective September 8, 2020.
Mark Thompson’s duties as CEO will be taken over by Meredith Kopit Levien, currently chief operating officer of New York Times Co.
“We have achieved everything I set out to do”
Mark Thompson’s departure from the CEO post is explained as follows. Thompson said: “I’ve chosen this moment to step down because we have achieved everything I set out to do when I joined The Times Company eight years ago — and because I know that in Meredith, I have an outstanding successor who is ready to lead the company on to its next chapter.”
Precise information regarding Mark Thompson’s future plans was not immediately available.
“Step down/retire”
New York Times said: “The New York Times Company (NYSE: NYT) announced today that its chief operating officer, Meredith Kopit Levien, will succeed Mark Thompson as president and chief executive officer, effective Sept. 8. Ms. Kopit Levien, 49, will join The Times Company’s Board and Mr. Thompson will step down as an officer and director of The Times Company.”
New York Times further said: “On July 21, 2020, the Board of Directors (the “Board”) of The New York Times Company (the “Company”) appointed Meredith Kopit Levien as the Company’s next President and Chief Executive Officer, effective September 8, 2020. The Board has also appointed Ms. Levien as a director effective upon the commencement of her tenure as CEO. She will succeed Mark Thompson, who will retire as CEO and as a director effective September 8, 2020.”
Share price increase since November 2012
The announcement follows an increase in New York Times Co.’s share price of 415% since November 2012.
Chaired by Arthur O. Sulzberger
New York Times Co. is chaired by Arthur O. Sulzberger.
Sulzberger served as publisher of The New York Times from 1992 to 2017.
In the position of CEO since 2012
Mark Thompson became CEO of the Company in 2012.
Mark Thompson has served as the Company’s president and chief executive officer and as a member of the Company’s Board of Directors since 2012.
From 2004 to 2012, he was director-general of the British Broadcasting Corporation (the “BBC”), and from 2002 to 2004, he was chief executive of Channel 4 Television Corporation.
From 1979 to 2001, he served in various positions of increasing responsibility at the BBC, including director of television and controller of BBC Two.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to New York Times and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 30.2020 ($).