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.