Two months after restructuring its women’s titles, Hachette Filipacchi Media has started to expand its restructuring efforts to its men’s enthusiast titles. Yesterday, the company’s president and CEO Alain Lemarchand announced that 28-year veteran Nick Matarazzo, group publishing director of Hachette’s Men’s Enthusiast Network, would be leaving the company. An internal memo said that Matarazzo and Hachette “mutually agreed” to part ways and noted that his position will not be filled.
Matarazzo (left) oversaw titles such as Car and Driver, Road & Track, Cycle World, American Photo, Popular Photography, Boating, Flying and Sound & Vision. Anne Janas, senior vice president of corporate communications at Hachette, confirmed that the company is in discussions to sell a number of those titles — the photography books, Boating, Flying and Sound & Vision — but said Matarazzo’s departure did not necessarily mean that they were close to a deal. But we’re going to keep our eye on it.
As for the other titles in the M.E.N. group, Janas said Hachette “will continue to make changes [like the recent brand-centric restructuring at its women’s titles] in order to best meet today’s market challenges.”
The full internal memo regarding Matarazzo’s exit, plus statements from Matarazzo and Lemarchand, after the jump.
Alain Lemarchand, President & CEO, Hachette Filipacchi Media U.S. announced today to the company that he and Nick Matarazzo, EVP, Group Publishing Director, Men’s Enthusiast Network (M.E.N.), have mutually agreed that Matarazzo will be leaving HFM U.S. His position will not be filled. Following are statements from both Alain and Nick.
Alain Lemarchand commented: “Nick Matarazzo and I have reached a mutual agreement that he will be leaving the company, and, on behalf of us at HFM U.S., I want to thank him for his steadfast commitment to excellence and for his dedication. For over 28 years, Nick has made many significant contributions to this company in his various ad sales and financial positions. He is a gifted executive and an outstanding leader and has been a prominent figure in the automotive and men’s enthusiast world. Nick has brought imagination, humor and the ability to deftly maneuver through changes and shifts in the industry and the marketplace. We wish him all the best.”
Nick Matarazzo said: “It is time to close this chapter of my life. I leave knowing how much we succeeded in the best of times and how much we still achieved in this difficult economy. I am grateful for my years and experience here, from my first job 28 years ago to now proudly leading our M.E.N. brands and Corporate Sales & Marketing. I am also grateful for our strong brands that we created and for the talented people who surrounded me to make it all happen. I am thankful for the many friendships, and HFM U.S. will always be a very important part of the fabric of my life. I’m confident that the company is well prepared and positioned to manage its core brands across media platforms and will emerge from this economic climate stronger than before.”