Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Penguin Random House CEO Markus Dohle to step down

Markus Dohle (Alamy)
Markus Dohle (Alamy)

Markus Dohle is stepping down as the CEO of the world’s largest trade publisher, Penguin Random House.

Mr Dohle’s decision, effective at the end of the year, comes just weeks after a US federal judge blocked the company’s attempt to buy rival Simon & Schuster.

The 54-year-old said in a statement released by the firm’s parent company, the German conglomerate Bertelsmann: “Following the antitrust decision in the US against the merger of Penguin Random House and Simon & Schuster, I have decided, after nearly 15 years on the Executive Board of Bertelsmann and at the helm of our global publishing business, to hand over the next chapter of Penguin Random House to new leadership.”

Mr Dohle is also leaving his seat on the Bertelsmann executive board.

His departure was made at “his own request and on the best of mutual terms”, according to the Bertelsmann announcement.

The CEO will be succeeded, on an interim basis, by Nihar Malaviya, 48, currently president and COO of Penguin Random House.

Mr Dohle was named CEO when Penguin Random House was still Random House and presided over an era of enormous growth, notably the merger in 2012-13 with Penguin that made the new company the industry’s unchallenged market leader.

But the failed purchase of Simon & Schuster proved an embarrassment to Mr Dohle, who had strongly pushed for the deal.

Christopher Mohn, chair of Bertelsmann’s supervisory board, said in a statement: “We regret Markus Dohle’s decision to leave Bertelsmann and Penguin Random House.

“He has sustainably focused Penguin Random House on growth and profitability. Under his leadership, our book division more than doubled its revenues and quintupled its profit.

“The fact that our global book publishing group is in such a strong position today is largely thanks to Markus Dohle.”