Bennack, who has been at the helm of the company for 28 years, will continue to service as executive vice chairman of the Hearst board of directors and chairman of the corporation’s executive committee.
“The Hearst Board is profoundly grateful for the accomplishments of Frank Bennack and we believe his legacy will continue with Steve as his successor,” William R. Hearst III, chairman of the Hearst board, said in a statement. “Steve has all the talent, insight and experience to lead the company forward. We also have the benefit of Frank remaining as executive vice chairman of the Board and we trust he will remain deeply involved in our corporate and foundation activities.”
Swartz is currently the president and COO of Hearst, which owns 29 local television stations in addition to radio, magazine and newspaper properties. He joined the company in 2001 as executive vice president and was president of the newspapers division from 2009-11.
Watch MediabistroTV‘s “Cubes” episode featuring the Hearst global headquarters in New York City after the jump.