Jonathan Karp Steps Down as Simon & Schuster CEO to Launch New Imprint

Simon & Schuster CEO Jonathan Karp is stepping down and launching a new imprint, Simon Six, which will publish six books a year. Karp, who has been CEO since 2020, will remain with the company as he searches for a successor. His departure follows a tumultuous reign, including the pandemic and a federal lawsuit over the publisher's sale to Penguin Random House. Simon & Schuster is now owned by private equity firm KKR.

Simon & Schuster CEO Jonathan Karp is stepping down from his position after a tumultuous tenure, which included navigating the publisher through the COVID-19 pandemic and a federal lawsuit over its sale to Penguin Random House. Karp will remain with the company as he searches for a successor. The publisher is now owned by private equity firm KKR.

Karp's departure follows a series of challenges that have marked his tenure. He assumed the role in 2020, a time marked by the COVID-19 pandemic, which significantly impacted the publishing industry. Additionally, the publisher faced legal issues in 2023 when it was sued over its sale to Penguin Random House. Despite these challenges, Simon & Schuster has continued to operate under the ownership of KKR, which acquired the company in 2021 [1].

In his new role, Karp will launch Simon Six, a new imprint that will publish six books per year. The imprint is part of Simon & Schuster's broader strategy to diversify its offerings and explore new markets. The move comes as the publishing industry continues to evolve, with a growing emphasis on digital content and new formats. Simon & Schuster has been proactive in adapting to these changes, investing in digital platforms and expanding its reach to new audiences [2].

Karp's decision to step down is a significant change for the company, which has seen a series of leadership transitions in recent years. The search for a new CEO is expected to be a priority for the board, with the goal of finding a leader who can continue to drive the company's growth and innovation. The publisher has a strong reputation in the industry and has a diverse portfolio of titles, including bestsellers and award-winning books. Despite the challenges it has faced, Simon & Schuster remains a major player in the publishing world.

References:
[1] https://www.prnewswire.com/news-releases/morrow-founder-invests-us-156m-and-launches-new-flagship-in-singapore-as-us-8-trillion-longevity-revolution-ramps-up-302536024.html
[2] https://www.schoollibraryjournal.com/story/Victory-Freedom-Read-Penguin-Random-House-Gibson