The move seems to consolidate the power of James Fitzgerald, president-CEO of the highly profitable Trumball, Conn.-based group, though it has not entirely hushed rumors the group could be sold.
Executives familiar with the unit estimate annual sales at $130 million and operating cash flow at more than $35 million-giving it one of the industry's more attractive cash flow margins.
One surprise in last week's realignment was the return of Win Stevens, who assumed the newly created post of VP-group publisher for the Tennis Co., Snow Country and Snow Country Business. Mr. Stevens had been publisher of the Times-owned Family Circle in the late 1980s, but left to do merger and acquisition consulting before returning recently as consultant to the group's golfing titles.
Bob Maxon also moves upstairs to the new post of VP-group publisher of the Golf Co. and the Sailing Co., in charge of Golf Digest and Sailing World, from publisher of Golf World.
Another surprise was Michael Golden's move to VP-publisher of Tennis. Mr. Golden, a nephew of The New York Times Co. Chairman-CEO Arthur Ochs Sulzberger, had most recently been exec VP-general manager of the women's magazines that were sold to Gruner & Jahr Publishing USA in July. He replaces Mark Adorney, now VP-director of new magazine development.
The other four VP/publishers are: Tom Brown to publisher, Golf Digest, a vacant post, from publisher of Snow Country; Cliff Tallman, publisher, the Sailing Co., from associate publisher of the Sailing Co.; Peter Griffin to publisher, Snow Country, from ad director, Tennis; and Peter Gross, to publisher, Golf World, from ad director, Golf Digest.