By: E&P Staff
New York Times Co. Executive Vice President and CFO Leonard P. Forman plans to retire in 2007 after a successor is named, the company announced Tuesday.
“My work at The Times has been extraordinarily rewarding and exciting, especially in recent years as we’ve moved into the digital space,” Forman said in a statement released by the company. “But after a long business career, it’s time for a change and I look forward to working with the new CFO to ensure an orderly transition.”
The Times said it has retained the headhunter firm Heidrick & Struggles to “identify candidates from both inside and outside the organization.”
Forman, 61, joined the Times Co. in 1974 as director of corporate planning and chief economist, posts he held until 1986. He rejoined the company in 1996 as senior vice president of corporate development, new ventures and electronic business. He served as president and CEO of The New York Times Company Magazine Group from 1998 to 2001, when the group was sold to Advance Publications. He was named CFO in 2002 and took the additional title of executive vice president in 2004.
Forman was COO of the Newspaper Association of America (NAA) from 1992 to 1994. From 1989 to 1992, he was president and CEO of the Newspaper Advertising Bureau, which merged with the NAA in 1992.
From 1986 to 1989, Forman served as senior vice president, operations at Telemundo Inc., the Spanish language television company.