Jonas Bonnier will step down as CEO of Bonnier AB, a Swedish media group of 175 companies, at the end of 2013, the media industry trade publication
Folio
reported.
Bonnier AB, founded as a bookstore in Copenhagen by Gerhard Bonnier in 1804, is the parent company of the U.S.-based Bonnier Corp.
Bonnier, who became CEO in 2008, will vacate that post to become chairman of the board of Bonnier Corp., the
Folio
article said.
Terry Snow, Bonnier Corp.’s former CEO, left in January, the report noted. Since his departure, the company has been selling off titles “in an effort to exit markets where its brands weren’t number-one or number-two,” the article said.
The
Folio
report noted that Bonnier Corp. was formed in 2006, when Bonnier AB acquired a 49% stake in Snow’s World Publications. In 2007, purchased the assets of Time4 Media. (Source:
Folio,
May 30, 2013.)
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