American Media Inc. has poached another executive from Hachette Filipacchi Media. This time, it’s hiring a financial pro who can help the company as it looks for acquisitions and seeks to strike more outsourcing deals, like the one it has with Playboy.
Ron Minutella, who ran financial planning for Hachette, will be vice president of financial planning and analysis at AMI. “With more than 30 years of experience, Ron is the perfect candidate to manage our planning department,” AMI chairman, president and CEO David Pecker said in a statement.
Hachette has lost a string of people since its planned sale to Hearst was announced. Three production-side executives alone have been hired away by AMI.
Pecker has been looking to expand AMI’s publishing services and is eyeing acquisitions now that his company has emerged from a prepackaged bankruptcy. One potential deal he’s believed to be interested in would actually involve Hachette and specifically its car enthusiast magazines, like Car and Driver and Road & Track, if Hearst spins them off after absorbing Hachette’s women’s titles.