Tuesday, February 27, 2018

Publishers Lunch

Today's Meal

Group ceo of Bonnier Publishing Richard Johnson is stepping down immediately, an abrupt move announced by the company on Friday. He has run the fast-growing division for the past nine year. COO and CFO of parent unit Bonnier Books Jim Zetterlund will serve as acting CEO.

In headline results for 2017
released on February 12, Bonnier Group noted that, "Our UK-based book publishing house Bonnier Publishing has had several years of great expansion and acquisition, but during 2017 sales lagged and write-offs affected profits." It was one of two "business areas that performed weaker than expected." The company added that, "After operational measures and write-offs, Bonnier Publishing has a good chance of sharply improving its profitability for 2018." Later in the report, they say the UK division had "a strong negative effect on the financial results," with good performance in Sweden and Germany.

In 2017, sales for the books division (which includes retailers as well as publishers), grew to 8.098 billion Swedish krona (about $948 million), up from 7.690 billion krona in 2016 (about $900 million). EBIT fell considerably even on the higher sales, however, at 232 million krona ($27 million), down from 427 million krona in 2016 ($50 million).

IPG announced that Chicago Review Press and Triumph Books will integrate shared production, marketing, and publicity services. The restructuring includes a number of promotions: Andrea Baird has been promoted to director of marketing, Chicago Review Press and Triumph Books; Allison Felus to director of production, Chicago Review Press and Triumph Books; Caitlin Eck to director of publicity, overseeing publicity for Chicago Review Press and Trafalgar Square Publishing, as well as corporate communications for IPG; and Noah Amstadter, to associate publisher of Triumph Books. Mitch Rogatz, publisher at Triumph, has stepped down to pursue other opportunities.

Will Lach has joined Eriksen Translations as director of sales, focusing on museums and creative services. Previously he was editorial director at Abbeville Press.

Book Expo announced speakers for the Thursday morning breakfast session on May 31, which will feature Trevor Noah on his second memoir; Barbara Kingsolver (Unsheltered); Nicholas Sparks on his latest love story; and Jill Lepore (These Truths: A History of the United States). Megan Mullally and Nick Offerman, co-authors of The Greatest Love Story Ever Told, will host the event.

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