New York—Steven R. Swartz, president-COO of Hearst Corp., will succeed Frank A. Bennack Jr. as CEO on June 1. Swartz, 51, was named president of Hearst in December 2012, after being named COO in March 2011.
Bennack will continue to serve as executive vice chairman of the Hearst board and chairman of the executive committee. At age 80, he is in his second tenure as Hearst CEO. In total, he has held the position for 28 years.
Hearst Chairman William R. Hearst III said in a statement: “Since Frank first stepped into the role of CEO in 1979, Hearst has seen unparalleled growth: 90 percent of the businesses we are in today did not exist or were not part of our company when his tenure began. Steve has all the talent, insight and experience to lead the company forward.”