Bonnier bets on ‘ Zinc’ man
Bonnier Corp. on Monday announced its third CEO in less than three years.
Eric Zinczenko, an executive vice president at the special interest magazine publisher, replaces David Frey-gang, 60, who will stay on as a consultant through Dec. 31.
Zinczenko said he is planning to aggressively amp up the US digital, events and video offerings of Bonnier, whose stable of titles ranges from Saveur to Popular Science.
“It’s really all things digital,” said Zinczenko.
Bonnier’s Swedishbased parent company had grown a bit frustrated with its US operation of late, sources said, leading to Monday’s changes.
The moves come only two months after the board vetoed the $ 30 million acquisition of Men’s Fitness from American Media.
Zinczenko said the company hopes to expand on its licensing deals — like the one whereby its Outdoor Life title sells branded apparel through Sears.
It also plans to expand its events businesses to include such ventures as running consumer expo businesses for Field & Stream, holding Working Mother conferences and having Offshore Fishing championships.
“They are highmargin businesses,” said Zinczenko, who added that for the remainder of 2015, Bonnier planned to “focus on our own portfolio.”
Eric, 47, is the older brother of David Zinczenko, 45, a fitness author and former editor in chief of Men’s Health who runs Galvanized Media.
Galvanized’s clients include Bonnier and American Media.
Bonnier’s US operations have revenue of $ 200 millionplus. Zinczenko would not disclose earnings because Bonnier is privately held but said it’s profitable.
Zinczenko arrived at Bonnier Corp. in 2007 when the company paid $ 225 million to buy the Time 4Media group from Time Inc., giving it entrée to the US market.