The Washington Post announced Monday its Chief Executive Officer Fred Ryan would step down, ending his nearly decade-old stint at the newspaper. He was hired by Amazon’s Jeff Bezos in 2013, shortly after he acquired The Post for $250 million. Although his leadership led to a surge in digital subscribers in the initial years, his performance has remained trivial of late.
The paper has struggled to maintain momentum since the exit of former President Donald Trump as the public’s interest in politics significantly waned.
Employees were frustrated with Fred Ryan
The employees of The Washington Post have shed light on their frustrations with the newspaper’s current business culture, led by Ryan. Describing it as stagnant, with an abundance of unproductive meetings and strategy memos, they paint a picture of an organisation in need of revitalisation.
The upcoming transition of power at The Washington Post carries immense weight, as the successor to Fred Ryan will not only need to jump-start the newspaper’s subscriber growth but also navigate the challenges posed by the ever-changing digital advertising market.
However, there is a silver lining on the horizon, as the approaching presidential election is expected to provide a much-needed boost. Readers, seeking authoritative political coverage, are likely to turn to The Post.
Bezos made a rare visit to The Post in January
Earlier this year, concerns about the newspaper’s struggles escalated as Jeff Bezos, the owner, made a rare visit to The Washington Post. In an effort to quell anxieties, he met with editorial leaders and business executives, making it abundantly clear that his intention was to listen and understand, rather than interrogate.
Despite Bezos’s reassurances, The Washington Post has witnessed a steady exodus of top-tier talent in recent months. Joy Robins, the chief revenue officer, and David Malitz, the senior culture editor, were among those who chose to join The Times.
Watch: First launch failure for Jeff Bezos’ rocket company ‘Blue Origin’
Furthermore, Cameron Barr, the newspaper’s second most senior editor, recently announced his departure after nearly two decades of service. The departures continued, with esteemed reporters like Eli Saslow, Robert Samuels, and Stephanie McCrummen bidding farewell to The Post. However, the news of Ryan’s impending departure has brought a sense of relief to some employees.
Who will be Fred Ryan’s successor?
In an internal memo to the staff, Bezos unveiled Patty Stonesifer, the former CEO of Martha’s Table—an organisation dedicated to assisting low-income individuals—as the interim chief executive of The Washington Post. He expressed his unwavering confidence in her skills, judgment, and character.
Meanwhile, he also revealed that Ryan would be leading the Center on Public Civility, a new project by the Ronald Reagan Presidential Foundation and Institute that is backed by Jeff Bezos.
