Transition Continues p. 13

By: Debra Gersh

Katharine Graham steps down as board chairman of
the Washington Post Co.; son assumes the title
ALMOST 30 YEARS to the day since she took control, Katharine Graham continued the transition of power from one generation to the next at the Washington Post Co. when she passed the title of chairman of the company to her son, Donald.
Donald Graham, 48, adds the position of board chairman to those of publisher of the paper, which he has been since 1979, and chief executive officer of the company, a position he assumed in 1991.
His job as president of the company was assumed by Alan G. Spoon, 42, who had been executive vice president and chief operating officer since May 1991.
The actions, none of which were unexpected, were approved at a recent Washington Post Co. board meeting. The latest move has been described as largely ceremonial, with the major transition occurring in 1991 when Donald Graham and Spoon were promoted to CEO and COO, respectively.
Katharine Graham, 76, will remain chairman of a newly formed executive committee of the board of directors, which will review and advise the board on various actions. Joining her on the executive committee are her son and Spoon.
"This won't have much practical effect on the company," said Mrs. Graham in a Post article. "Don and Alan have been doing the work of chief executive and chief operating officer, and I think they should have the [additional] titles."
The Graham family legacy at the Post began with Katharine Graham's father, Eugene Meyer, who purchased the paper at a bankruptcy auction in 1933.
Katharine Graham, who is currently working on her memoirs, formally took control as president of the company Sept. 20, 1963, shortly after her husband, Philip, who had been publisher, committed suicide.
The Nixon administration of the 1970s gave the Post much of the distinction it gained under Katharine Graham's stewardship.
In 1971, the newspaper began publication of top secret documents detailing U.S. involvement in Vietnam that became known as the Pentagon Papers.
Although the New York Times was the first to publish excerpts from the documents ? and was under a court order not to continue to do so, Katharine Graham decided that the Post would run the story, despite government directives to the contrary and a major stock offering that was pending.
The Times and the Post cases were heard jointly by the U.S. Supreme Court, which issued its landmark decision in favor of the press.
The Post's comprehensive coverage of the Watergate scandal, which eventually led to the resignation of President Nixon, gained it tremendous publicity, especially after release of the movie All the President's Men, which chronicled Post reporters' pursuit of the story.
In addition to the journalistic accolades bestowed on the newspaper during her tenure, Katharine Graham helped lead the newspaper company to expansion and tremendous financial success.
Washington Post Co. holdings now include not only its flagship paper in the capital but the Herald in Everett, Wash.; Newsweek magazine; a number of broadcast and cable television stations; telecommunications partnerships, and other related ventures.