VNU Names New CEO, Promotes Current One

The same day the company confirmed layoffs at its Billboard division, VNU Business Media announced an executive-level shuffle, with the promotion of current president and CEO Mike Marchesano to executive VP and “chief transformation officer.” The company also named Robert Krakoff [yes, that guy, left] as Marchesano’s CEO replacement.

Since 2005, Krakoff — a former CEO of Advanstar and vice chairman of Reed Elsevier — and his investment firm, Blantyre Partners, have been a strategic partner with the Blackstone Group, a member of the private-equity cortsortium that bought VNU in March.

As Folio: telestrated prior to the March sale:

“Out of all the potential owners [Krakoff] has more operating experience than anyone else in that consortium,” says one source. This could spell trouble for current VNU Business Media president and CEO Michael Marchesano. Says the source: “If Krakoff were to take responsibility, I would doubt there would be a future role for [Marchesano].”

EARLIER:

VNU Axes 26

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VNU To Acquire Radio & Records

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