After five years as CEO and 14 years with Bonnier Corp., Eric Zinczenko will be stepping down. Replacing Zinczenko will 25-year company vet, David Ritchie, who had been serving as EVP of operations out of the company’s Winter Park, Florida headquarters, where most of its water sports enthusiast brands are housed.
This news comes less than 6 months after the Wall Street Journal reported that the publisher of Popular Science, Outdoors, Field & Stream and Saveur was seeking a buyer for its magazine division, which includes those brand assets.
“David’s track record and deep understanding of all facets of the company as former COO and CCO make him the right choice to lead Bonnier Corp. into the future,” said chairman of the board Dr. Jens Mueffelmann in a press release. “What impressed me working with David in the past couple of months was his true passion for our brands, paired with a strong business acumen and a structured and hands-on approach to execution. These qualities will be critical to us in this pivotal time as we conclude efforts on mergers and acquisitions opportunities for our media properties, transform and restructure operations, and execute a clear go-forward plan for our nonmedia activities.”
Mueffelmann went on to thank Zinczenko for his years of service to the company, but no details were provided regarding terms of his departure. According to a statement MediaPost received form a company spokesperson, the decision was “mutual.”