The New York Times Company Announces Management Changes

NEW YORK--()--Feb. 19, 2004--The New York Times Company:

-- Janet L. Robinson to Succeed Russell T. Lewis as Times Company President and CEO Upon His Retirement by Year-End '04

-- Leonard P. Forman Named Executive Vice President of the Times Company

-- Scott Heekin-Canedy Named President & General Manager of The New York Times Newspaper

The New York Times Company announced today that Janet L. Robinson, senior vice president of newspaper operations, will succeed Russell T. Lewis, president and CEO, who plans to retire by the end of 2004. At that time, Ms. Robinson, who was today named chief operating officer and executive vice president, will become president and CEO of the Times Company.

"Russ has been an extraordinary leader of our Company, and all of us are deeply grateful for his tremendous vision, his deep humanity and his strong moral compass," said Arthur Sulzberger, Jr., chairman of the Times Company. "In his position as CEO, he led the development and implementation of our Company's business framework and our national and local business strategies. He spearheaded our drive to develop a portfolio of multimedia properties. And he strengthened our business operations by instilling a passion for excellence among all who work at The New York Times Company - a passion that led us to superior financial performance.

"Beyond that, however, lay Russ's commitment to leading a mission-driven organization that lived the values it espoused. In both words and actions he inspired all of us at the Company.

"We are extremely fortunate to have in Janet Robinson a gifted executive who has been Russ's partner and will build on his success. She possesses remarkable skills in developing teams and encouraging innovation and creativity. Her superb leadership in the integration of our newspaper properties and the development of our national expansion strategy and its enormously successful execution has transformed our Newspaper Group, resulting in strong growth in the Company's revenues and earnings. This has enabled us to improve our editorial content, to reinvest in our businesses and to enhance value for our shareholders."

Mr. Lewis said, "Working for a newspaper company, in general, and this newspaper company, in particular, is very rewarding work. But as Adolph Ochs, who bought The New York Times in 1896, noted almost 29 years later, it is also 'arduous' work 'that knows neither time nor season; that occupies your waking hours and visits your dreams...' So, having started my career here in 1966, while still in college, and now in my eighth year as president of the Company, I felt it was time for a change. The decision to retire was a difficult and personal one but it was made easier for me knowing that Janet is so well prepared to lead the Company to even greater success."

Today Leonard P. Forman, senior vice president and chief financial officer, was named executive vice president and chief financial officer of The New York Times Company and Scott Heekin-Canedy, senior vice president, circulation for The New York Times newspaper, was named president and general manager of the newspaper, a position previously held by Ms. Robinson.

Mr. Forman will continue to be responsible for the management of all corporate financial functions, overseeing investor relations and participating in the analysis of acquisition and divestiture candidates and the capital expenditure program. In his new role, he will oversee information technology, corporate communications and the Company's investment in two paper mills.

In making the announcement, Mr. Lewis said, "Len is an extremely talented, seasoned and well-rounded media executive whose emphasis on financial discipline, resource allocation and shareholder value have resulted in important contributions to our Company's success. Adding responsibilities to Len's management portfolio will allow us to make even greater use of his unique abilities."

Mr. Heekin-Canedy will be responsible for all of the business operations of the Times newspaper, including advertising, circulation, marketing, production, systems, human resources, finance, strategic planning, labor relations and New York Times News Services. Mr. Heekin-Canedy's circulation responsibilities will be assumed by a successor who is expected to be named shortly.

In making the announcement, Ms. Robinson said, "Scott has played an integral role in setting the strategy for The New York Times and in increasing its national reach. His skills in finance, planning and circulation, along with his background in newspaper operations, will enable him to bring strong vision and outstanding leadership to his new responsibilities."

Biographical Information

Mr. Lewis, 56, was named chief executive officer and a director of The New York Times Company in 1997, retaining his position as president of the Company, a position he has held since 1996. During Mr. Lewis's tenure as president and then CEO, the Company's share price has grown threefold and the Company has been repeatedly cited for its commitment to excellence and innovation in a wide variety of areas. In Fortune magazine's most recent survey of "America's Most Admired Companies," The New York Times was listed as No. 1 in the publishing industry for the third consecutive year.

Previously, Mr. Lewis served as president and general manager of The New York Times newspaper since 1993. Before that, he was executive vice president and deputy general manager since 1992, and senior vice president, production since 1988. Earlier, Mr. Lewis served in various positions at The Times including senior vice president of circulation, 1984-1988, and vice president of circulation, 1983-1984.

He first joined The Times in 1966, as a copy boy, while attending college. He became a news clerk, then a news assistant, and won a Publisher's Award for a story he wrote detailing the work of his national guard unit during a U.S. Postal Service strike. In 1977 he returned as a staff attorney in the Company's legal department and was involved in litigation regarding freedom of the press.

He earned a B.A. degree in 1969 from the State University of New York at Stony Brook. In 1970, he entered Brooklyn Law School and continued to work at The Times as a legal clerk. He was awarded a J.D. degree in 1973 and was a litigation associate with the New York City law firm of Cahill, Gordon and Reindel.

The American Jewish Committee honored Mr. Lewis with its National Human Relations Award in February 2003. In 2002 Mr. Lewis received the Academy of Management's "Distinguished Executive of the Year" award and was also the 2002 recipient of the American Lung Association of NY Life & Breath Award. In 2001, for the third consecutive year, Mr. Lewis was named one of the top 50 CEOs by Worth Magazine.

Ms. Robinson, 53, brings 21 years of experience with The New York Times Company to her new position. She was named senior vice president, newspaper operations in 2001, retaining her position as president and general manager of The New York Times newspaper, which she assumed in 1996. She has been responsible for the operations of all of the Company's newspaper properties, including The New York Times, The International Herald Tribune, The Boston Globe and 16 other newspapers.

Before serving as president and general manager of The Times, Ms. Robinson served in a variety of senior advertising positions for the newspaper as well as The New York Times Company Women's Magazine Group and the Company's Sports Magazine Group, whose properties were sold. Before joining The Times in 1983, she was a public school teacher for 11 years. She received a B.A. degree in English from Salve Regina College, Newport, R.I., where she graduated cum laude in 1972. Ms. Robinson was presented with an honorary doctorate of business administration degree from Salve Regina University in 1998.

Ms. Robinson has received numerous awards. Beginning in 2001, she has been named each year to Fortune magazine's annual survey of the 50 Most Powerful Women in Business. She was recognized in the September 1999 issue of Crain's New York Business as one of the 100 Most Influential Women in Business. She has also received New York University's 1999 Prism Award for outstanding leadership in the graphic arts industry. In 1998 she was inducted into the YWCA's Academy of Women Achievers, which celebrates the accomplishments of the nation's most outstanding professional women.

She also received the Association for Women in Communications, Inc., Matrix Award in April 1998 for women who have distinguished themselves in the communications field for exceptional achievement, in this case, in the area of newspapers. She was named by Advertising Age as one of "25 Women to Watch" among the most prominent women in advertising, marketing and media, in February 1997. She received the Frohlinger's Marketing Report Award in 1995 as the "Outstanding Newspaper Executive of 1994," which recognizes excellence in marketing, advertising and business.

Mr. Forman, 58, became chief financial officer of The New York Times Company in 2002. He has been senior vice president of the Company since 2001. Mr. Forman was president and chief executive officer of The New York Times Company Magazine Group before its sale in 2001. Previously, he served The New York Times Company as senior vice president of corporate development, new ventures and electronic businesses.

Before returning to the Company in 1996, Mr. Forman spent 10 years working in television, online services, print media and advertising. In 1995 Mr. Forman served as president and chief executive officer of a Nynex/Newsday joint venture for an electronic service that ceased when both companies altered their electronic strategies. He then became a media consultant until he joined the Times Company.

From 1992 until 1994, Mr. Forman was chief operating officer of the Newspaper Association of America (NAA), and from 1989 until 1992, he was president and chief executive officer of the Newspaper Advertising Bureau, which merged with NAA in 1992.

Mr. Forman served as senior vice president operations at Telemundo, Inc., a Spanish language television company, from 1986 until 1989, and was responsible for all station and network operations, including the Network's programming facility.

Previously, he had been director of planning at The New York Times Company from 1974 until 1986. He was a research economist at the Federal Reserve Bank of New York from 1973 until 1974. Mr. Forman also served as an adjunct professor of economics at Yale University Graduate School of Management in 1981 and as an assistant professor of economics at Fordham University Graduate School of Business in 1972 and 1973.

Mr. Forman received a B.A. degree in economics from Queens College, City University of New York in 1967 and completed a Ph.D. dissertation in economics at New York University in 1975.

Mr. Heekin-Canedy, 52, was appointed senior vice president, circulation of The Times in 1999 after having served as vice president, strategic planning since 1997, and as group director since 1994. Previously, Mr. Heekin-Canedy served first as project manager and then as project director in strategic planning since 1993.

Mr. Heekin-Canedy left The Times in 1989 to hold positions as circulation accounting manager and financial planning manager at the Los Angeles Times, but returned in 1992 as an assistant manager in the financial planning department. Before leaving, he had been a circulation systems support manager since January 1989. He joined The New York Times in August 1987 as a circulation market planning analyst. Previously Mr. Heekin-Canedy held financial and corporate planning positions at Dow Jones and Doubleday.

Mr. Heekin-Canedy received a B.A. degree in political science from Williams College in 1974, a doctor of laws degree from Northeastern University School of Law in 1979, and an M.B.A. in marketing and finance from Columbia University in 1985.

The New York Times Company (NYSE: NYT), a leading media company with 2003 revenues of $3.2 billion, includes The New York Times, The International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated television stations, two New York City radio stations and more than 40 Web sites, including NYTimes.com and Boston.com. For the third consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune's 2002 list of America's Most Admired Companies. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

This press release, bios and photos can be downloaded from www.nytco.com.

Contacts

The New York Times Company
Catherine J. Mathis, 212-556-1981
mathis@nytimes.com

Contacts

The New York Times Company
Catherine J. Mathis, 212-556-1981
mathis@nytimes.com