- Longtime New York Times (NYSE:NYT) Chairman and Publisher Arthur Ochs Sulzberger has set a timetable for succession, saying a deputy publisher will be named within two years.
- That doesn't mean that the family won't retain tight control, as three expected finalists are all fifth-generation family members at the company. Sources point to Sulzberger's son, Arthur Gregg Sulzberger, as the heir apparent.
- A steady climb today has brought NYT stock to a 4.4% gain, just 4.5% below its 52-week high.
- "I’ve been in my role as publisher for more than 20 years and I’ve hit my mid-sixties, so it should come as no surprise that the task of choosing my successor has begun," the senior Sulzberger told staff. "Within two years we intend to name a deputy publisher."
- The publisher's discussion today also laid out a six-point strategy for the future, including expanding international readership and video along with re-imagining print and expanding the product portfolio.