SOURCE: Merryck & Co.

Merryck & Co.

May 20, 2010 14:14 ET

Former Newsweek CEO Richard M. (Rick) Smith Tapped as Chairman, U.S. Operations for Merryck & Co.

Smith Joins Expansion of Pioneering CEO Mentoring Business in U.S., Which Pairs Business-Leader Clients With Accomplished Former CEOs

NEW YORK, NY--(Marketwire - May 20, 2010) -  Richard M. (Rick) Smith, longtime Editor-in-Chief and Chief Executive Officer of Newsweek magazine, has joined Merryck & Co., the world's leading CEO mentoring firm, as Chairman of its U.S. division. In his new role, Smith will partner with Chief Executive for the Americas, David Reimer, as he leads the expansion of an organization that has provided critical support for global enterprises by pairing business leaders with mentors who are themselves accomplished former CEOs.

"We're at a pivotal time in U.S. business," said David M. Carter, Chairman and Founder of Merryck & Co. "An unprecedented number of smart, talented business leaders face challenges that exceed the experience base of any one executive. Merryck Mentoring can make a material difference for those individuals and their companies. I can't think of a better person to help shape our offering in the U.S. than Rick Smith, a man who has successfully led one of America's most-respected media companies through historic transitions."

"The job of a business leader has never been more unforgiving," said Smith. "Merryck Mentoring provides a critical edge -- a confidential relationship with a smart, trusted former CEO -- to help a top executive meet the unique challenge of being ultimately responsible for a business unit's success or failure. I believe in the power of the Merryck model and in the important contribution Merryck can make to American business." 

In addition to his Merryck role, Smith will continue as non-executive Chairman of Newsweek and as the host of an interview series on business leadership produced by Newsweek and the Kaplan University MBA program.

Smith served as Editor-in-Chief of Newsweek from 1984 to 2007, and also as CEO from 1991 to 2007. During his tenure, Newsweek introduced seven foreign-language editions, launched a thriving Web presence and posted the most profitable years in the magazine's history. In 2004, Smith earned the magazine industry's highest honor, the Henry Johnson Fisher Award for Lifetime Achievement.

Smith's appointment is the final step in a major alignment of Merryck U.S. operations. It follows the January appointment of Reimer as Chief Executive, and the recent organization of some of Merryck & Co.'s leading Mentors into regional leadership of key markets.

About Merryck & Co.

Founded in 1997 by British entrepreneur, chief executive and venture capitalist David Carter, Merryck & Co. has established a thriving business as the world's only mentoring firm for CEOs and business unit leaders. With offices in London, New York, Singapore and Sydney, Merryck & Co. employs a faculty of more than 30 former CEOs, who are handpicked for their professional accomplishments as well as their history of talent development and trained in the art of Merryck Mentoring. Working one-on-one with business leaders whose scope includes full P&L accountability, these Mentors facilitate unpredictable gains in sales, profits, competitive position, efficiency, and other business goals. Merryck & Co. clients include CEOs and business unit leaders from a range of Fortune 500, FTSE 100 and equivalent private companies. A dossier on Merryck and Merryck Mentoring is available at www.merryck.com.

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