Reader’s Digest Association Inc.’s interim head, George Grune, brought back several former executives and shifted others into new roles Monday, a sign he may stay on longer than expected to turn around the publisher.
The company, whose namesake magazine and other publications are struggling to attract younger customers, said the changes are meant to bolster its direct-marketing expertise.
James Schadt quit as chairman and chief executive a month ago when his efforts to expand beyond publishing backfired.
The executives will report to Grune, 68, a former chairman who’s heading the company until a successor to Schadt is found.
Grune led the company through a decade of growth in the 1980s. Under his reign, Reader’s Digest became public, and its revenue doubled while operating profit rose ninefold. Since then, however, it has battled stagnant sales.
