The parent company of the New York-based multinational publishing group, Bertelsmann, announced on Friday that Nihar Malaviya will start serving as Interim CEO on January 1, 2023.
Indian descent Penguin Random House’s temporary CEO has been named Nihar Malaviya after the company’s outgoing CEO Markus Dohle made his resignation official.
Since 2019, Malaviya has served as President and Chief Operating Officer (COO) of Penguin Random House US, the publisher’s American division.
He will join the Bertelsmann Group Management Committee (GMC) and continue to be a member of the Penguin Random House Global Executive Committee. He will report to Thomas Rabe, CEO of Bertelsmann.
The GMC will now consist of 20 senior executives from eight different countries, according to the announcement.
Malaviya will “drive the creation of new competitive advantages that position the global company for future growth as Penguin Random House’s interim CEO, “The declaration read.
Malaviya, 48, was in charge of all publishing operations in the US as president and chief operating officer, including supply chain, technology, data, and client services.
At the end of 2022, Dohle will stand down as CEO and leave the Bertelsmann Executive Board concurrently, “at his own request and on the best of terms, “Bertelsmann said.
Following the US antitrust ruling against the merger of Penguin Random House and Simon & Schuster, Dohle stated in the statement that he has decided to hand over the next phase of Penguin Random House to new leadership after nearly 15 years at the helm of the global publishing industry and the Executive Board of Bertelsmann.
Nihar Malaviya is an exceptional leader and an entrepreneurial publishing specialist who is well-versed in Penguin Random House, according to Rabe, who was speaking about Malaviya. He has significantly contributed to the success of the business and developed long-lasting competitive advantages for Penguin Random House globally as the person in charge of all operational publishing processes in the US as well as the implementation of a global Tech & Data agenda.
“With his extensive knowledge of the publishing sector and the world’s media landscape, he will continue to grow the business and make investments in its growth both organically and through acquisitions. I’m looking forward to working with him at Penguin Random House and on the GMC even more closely “said he.
In its civil antitrust lawsuit to stop Penguin Random House’s proposed USD 2.2 billion acquisition of Simon & Schuster, the Justice Department received a victory in late October from the US District Court for the District of Columbia.
The planned combination, according to the court, would significantly decrease competition in the market for US publishing rights to predicted best-selling books.
The ruling, according to Assistant Attorney General Jonathan Kanter of the Justice Department’s Antitrust Division, protected essential book competition and was a win for writers, readers, and the free flow of ideas.
“The planned combination would have limited competition, decreased author pay, diminished the breadth, depth, and variety of our tales and ideas, and ultimately impoverished our democracy,” Kanter had warned.
Since 2014, Malaviya has been in charge of all US publishing operations, including supply chain management, technology, data management, and client services.
He directs the development of new competitive advantages that position the international business for future growth and is a member of the Penguin Random House Global Executive Committee.
Malaviya joined Bertelsmann in 2001 as a participant in the program for budding entrepreneurs.
He transferred inside the organization to Random House in 2003, where he was successful in assuming a number of senior roles. Malaviya is a member of the Bertelsmann Technology and Data Advisory Board and has won the Bertelsmann Entrepreneur Award for Strategy Execution twice.
He has a Bachelor of Science in Computer Science and an MBA in Finance and Marketing from the NYU Stern School of Business. Malaviya is a director of Yale University Press as well.
Malaviya is a “standout leader and an entrepreneurial publishing professional who knows Penguin Random House inside and out,” according to Rabe.
“He has played a major part in the development of the company and established sustainable competitive advantages for Penguin Random House globally,” Rabe said. “He is the person responsible for all operational publishing processes in the US as well as the implementation of a global Tech & Data agenda.”
Malaviya will continue to expand the business and invest in its expansion, both organically and through acquisitions, according to Rabe, who said that Malaviya has a comprehensive understanding of the publishing sector and the world’s media landscape.
Malaviya is a “standout leader and an entrepreneurial publishing professional who knows Penguin Random House inside and out,” according to Rabe.
“He has played a major part in the development of the company and established sustainable competitive advantages for Penguin Random House globally,” Rabe said. “He is the person responsible for all operational publishing processes in the US as well as the implementation of a global Tech & Data agenda.”
Malaviya will continue to expand the business and invest in its expansion, both organically and through acquisitions, according to Rabe, who said that Malaviya has a comprehensive understanding of the publishing sector and the world’s media landscape.
