Hachette Filipacchi Magazines Announces David J. Pecker Resigns as President and CEO

Posted on February 17, 1999

Gerald de Roquemaurel, Chairman and Chief Executive Officer, Hachette Filipacchi Medias, and Daniel Filipacchi, Chairman, Hachette Filipacchi Magazines, have announced that David J. Pecker will step down from his role as President and CEO of Hachette Filipacchi Magazines and CEO of Grolier, Inc. Mr. Pecker, who will remain at HFM through March 3lst, is leaving to pursue other interests. A successor will be announced at a later date.

Following David's departure, day-to-day operations will be overseen by Daniel Filipacchi, assisted by Jean-Louis Ginibre, Senior Executive Vice President and Editorial Director; John Fennell, Executive Vice President and COO; and John T. O'Connor, Senior Vice President, CFO and Treasurer.

From the company headquarters in Paris, Gerald de Roquemaurel said, "Under David's leadership, our American subsidiary has become a first-rate media organization, poised for continued growth in the future through its magazine, new media and production divisions. For the last ten years, his contribution to Hachette Filipacchi Magazines has been invaluable. We wish David continued success in his future endeavors."

"Hachette Filipacchi Magazines has moved from being the eighth to the third largest U.S. magazine publisher, based on advertising pages," said Daniel Filipacchi from his office in New York City. "David's contribution has been considerable."

Mr. Pecker joined CBS Inc. in 1979 as Manager, Financial Reporting, and was named Assistant Controller in 1983. In 1987 he was named Vice President, Controller of Diamandis Communications Inc. after the company was acquired from CBS Inc. In 1990, he was named Executive Vice President, Chief Operating Officer and Chief Financial Officer for Hachette Magazines, Inc., formerly Diamandis Communications Inc. Mr. Pecker was appointed President of Hachette Magazines, Inc. in 1991 and Chief Executive Officer in 1992.