Golden Books Announces Executive Change
Posted on November 24, 1998
Golden Books Family Entertainment, Inc. has announced the resignation of Eric Ellenbogen as President of the Company and a member of the Company's Board of Directors. The Company said that Mr. Ellenbogen would not be replaced.
"We want to thank Eric for his invaluable stewardship of the Entertainment Group, and we wish him every success in his future endeavors," said Richard E. Snyder, Chairman and Chief Executive Officer of the Company.
The Company also announced that it would be finalizing its senior management team in the next several weeks. "Achieving success in 1999 will require a company structure with fewer layers, less complexity and reduced overheads," said Mr. Snyder. "It will also require a top-level management team that provides focus on the core children's book business. While the Entertainment Group is a vital and successful part of our portfolio, it is imperative that we streamline our organization and lay a solid foundation of profitability in the children's book business."
The Company is the leading publisher of children's books in North America and owns one of the largest libraries of family entertainment copyrights. The Company creates, publishes and markets entertainment products for children and families through all media.
