By: Editorial Staff
THE FRANK RUSSELL era at Central Newspapers Inc. passes into history Jan. 1 with the ascension of Louis A. “Chip” Weil III as president and chief executive officer of the chain that publishes the Indianapolis Star and the Arizona Republic in Phoenix.
Weil, 54, was elected to his new post by the company’s board of directors Dec. 13.
Weil has been with Central Newspapers since 1991 and was most recently publisher and CEO of the company’s largest subsidiary, Phoenix Newspapers Inc., publisher of the Arizona Republic and the Phoenix Gazette.
During the nine-month search for a successor to Russell, 75, Weil was considered one of the two top candidates along with Malcolm W. Applegate, 59, the president and general manager of Indianapolis Newspapers, publisher of the Star and the Indianapolis News.
Russell, who served as president and CEO since 1975, will assume the title of chairman and remain on the board of directors.
During Russell’s tenure, Central Newspapers grew to a $519 million company and expanded beyond its daily newspaper holdings into weeklies, shoppers and, now, electronic information delivery on the World Wide Web. The company went public in 1989, although the Pulliam family continues to control the company through its majority stock holdings. The company reported income for the first nine months of this year was up 17% over last year.
Weil, a long time Gannett Co. executive who served as publisher of Gannett Westchester Rockland Newspapers and the Detroit News, was publisher of Time magazine from 1989 to 1991, when he was named publisher and CEO of Phoenix Newspapers.
?( Louis Weil III) [Photo]