Frank A. Bennack Jr., president-CEO of the Hearst Corp., announced Dec. 5 that he will step down in June 2002. He will be replaced by Victor F. Ganzi, exec VP-chief operating officer.
Mr. Ganzi, 54, wasn't available for comment, said a company spokesman. The privately held company has yet to name his successor; the spokesman wouldn't comment on what the timetable will be for finding one. Potential replacements for Mr. Ganzi as chief operating officer include Cathleen Black, president of Hearst Magazines; Mark Miller, longtime exec VP-general manager of Hearst Magazines; and Steve Swartz, president-CEO of Hearst Newspapers.
Mr. Bennack, 68, had signaled in the past that Mr. Ganzi would succeed him. Mr. Bennack has been president-CEO of the company, which has magazine, newspaper, and broadcast and cable holdings, for 23 years. That makes his tenure the longest since that of founder William Randolph Hearst.