Reader’s Digest CEO to Retire
By Dylan Stableford
chairman and CEO Tom Ryder announced today that he will retire at the end of the year and will be succeeded by Eric W. Schrier, global editor-in-chief and president of RD North America.
The announcement comes after what was characterized as a “thoughtful” nine-month selection process by the board of directors for Ryder’s successor. Ryder had made it clear of his wish to retire after a seven-year run when his contract was amended in 2004. Ryder recently completed his term as chairman of the Magazine Publishers of America
Ryder's stint at RD included the company's largest-ever acquisition, the $760 million purchase of Reiman Publications. Schrier joined Reader’s Digest in 2000 after a 10-year stint at Time Inc.
Additionally, the company announced RD International president Thomas Gardner will be promoted to the role of executive VP, reporting to Schrier.