Meredith Corp. announced yesterday that its board of directors had nominated CEO Steve Lacy chairman, replacing William T. Kerr, who resigned.

Lacy will remain president and CEO of the Des Moines-based magazine publisher while also overseeing the board. Kerr is remaining on the board, although he stepped aside as chair. Lacy has worked for Meredith since 1998, when he joined as CFO. He was named president and COO in 2004 and appointed CEO in 2006.

Dianna Meredith Frazier
was also appointed by the board as vice chair, Meredith said yesterday.

Additionally, Meredith had good news for its shareholders, announcing that it was paying out a dividend of 23 cents a share for the year — making 2009 the seventeenth year in a row that the company has increased its dividend.

Full release after the jump

Previously: Meredith Cuts 45 Jobs, Repositions Special Interest Division

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