Random House CEO Stepping Down

Peter Olson, chief executive of Random House, is expected to step down in the next few weeks. Fifty-eight year old Olson’s departure would be the most poignant event since Hartmut Ostrowski became the chief executive in January.

Ostrowski is disappointed with the performance of Random House and Bertelsmann’s U.S. businesses especially. Olson has overseen Bertelsmann’s U.S. business since 1990 and became a board member in 2001.

Bertelsmann’s has recently attempted to sell it’s floundering U.S. book, music and DVD clubs. Olson was given responsibility over those clubs which accrued $1.5 billion in revenue last year. Expected to step down in the coming weeks, it is unclear who Olson’s successor would be.

Ostrowski is believed to question Olson’s abilities after Olson took a leave of office for two months after contracting pneumonia. Since then, Olson’s ability to repair and rebuild their businesses in the U.S. has been under scrutiny.