Indian American publishing executive Nihar Malaviya has been named as permanent CEO of New York-based Penguin Random House, nine months after he was appointed the interim chief executive.
Malaviya, 48, succeeded Markus Dohle, who departed weeks after a federal judge struck down Penguin Random House’s attempted merger with Simon & Schuster, a deal Dohle had pushed for.
Penguin Random House, the worldâ€™s largest trade publisher, has been undergoing a company-wide reorganization in 2023, with numerous senior editors either laid off or departing under a voluntary retirement plan.
RELATED: Nihar Malaviya named interim CEO of Penguin Random House (December 12, 2022)
Bertelsmann, the German media conglomerate, has owned Random House since 1998. Random House and Penguin merged in 2013.
â€œIn Nihar Malaviya, the right leader is at the helm of Penguin Random House at the right time,â€ Bertelsmann Chairman and CEO Thomas Rabe said in a statement Monday.
â€œNihar has proven exactly this over the past nine months, and I am delighted that he is now taking over responsibility for Penguin Random House on a permanent basis.â€
â€œAs interim CEO, Nihar has set an important strategic course. Most importantly, he has transformed the structures at Penguin Random House so that the publishers and publishing groups can work more creatively and entrepreneurially,â€ he said.
â€œI am confident that he will continue to develop the Group with great vigor. I look forward to continuing to work with him as CEO of Penguin Random House and on the GMC,â€ Rabe added.
Malaviya has been a member of Bertelsmannâ€™s Group Management Committee (GMC), a body of top executives that advises the Groupâ€™s Executive Board, since his appointment as interim CEO.
Prior to his appointment as interim CEO of Penguin Random House on January 1, 2023, Malaviya served as President & Chief Operating Officer of Penguin Random House US since 2014.
During his tenure in publishing, Malaviya has spearheaded the creation of a variety of industry-first capabilities in data science, supply chain, technology, and consumer insights, according to a news release.
The objective was always to reach the widest possible audience for the companyâ€™s authors and their books across multiple formats and platforms, it said.
â€œAs leader of the Penguin Random House Global Executive Committee, Malaviya is focused on elevating the publishing independence and creative autonomy of the companyâ€™s imprints and driving the creation of competitive advantages that position the company for growth,â€ the release stated.
Malaviya began his career at Bertelsmann in 2001 as a participant in the Bertelsmann Entrepreneurs Program. In 2003, he moved within the group to Random House, successfully taking on a number of leadership positions.
Malaviya is a two-time recipient of the Bertelsmann Entrepreneur Award for Strategy Execution.
He holds an MBA in Finance and Marketing from the NYU Stern School of Business, as well as a Bachelor of Science inComputer Science.
Malaviya also serves on the board of directors of the Association of American Publishers and Poets & Writers. He resides in New Jersey with his wife and two children.