In what we understand to be two separate developments at Simon and Schuster, Rick Richter, the president of the publishing company’s children’s book division, has resigned “in order to explore other opportunities in publishing,” while 35 other positions throughout the company were eliminated in what was described by president/CEO Carolyn Reidy as “an unavoidable acknowledgment of the current bookselling marketplace and what may very well be a prolonged period of economic instability.”
In the memo announcing Richter’s departure, Reidy expressed confidence in the remaining children’s publishing team and its ability to “publish with a flair and expertise that insures a welcome reception by bookseller and reader alike, no small feat in an ever more competitive marketplace.” The memo about the layoffs expressed a similar sense of optimism, even while recognizing that “we must responsibly position ourselves for challenges both near term and long.”
(PW reports that the publisher and senior vice president of Simon and Schuster’s children’s division, Rubin Pfeffer, is also leaving the company, although it is unclear from the context whether that dot should be connected to any of the others.)