Exhibit 99.1
Arthur Ochs Sulzberger Jr. to Retire as
Chairman of The New York Times Company Board of Directors
A.G. Sulzberger to Become Chairman on Jan. 1, 2021
Mr. Sulzberger Jr. Transformed The Times into an International Media Company, Embraced the Internet Early, and Built the Most Successful Digital Pay Model in News
Sept. 23, 2020, NEW YORK – The New York Times Company (NYSE: NYT) today announced that Arthur Ochs Sulzberger Jr., 69, will retire as chairman and a member of its Board of Directors on Dec. 31, 2020 and will be succeeded as chairman by A.G. Sulzberger, 40, Times publisher since 2018. Mr. Sulzberger Jr. will assume the title chairman emeritus.
Known first and foremost as a champion of quality journalism, Mr. Sulzberger Jr. led The Times to 61 Pulitzer Prizes during his time as publisher, a record for any publisher or news organization. Over his four-decade tenure, he steered The Times through a changing media landscape, transforming the company into a digital-first news organization with a thriving subscription business. When he became chairman in 1997, the paper had a circulation of roughly 1 million, largely in the New York metropolitan area. Today, The Times has 6.5 million total subscriptions spanning nearly every country in the world. Mr. Sulzberger Jr. led The Times to embrace the internet and, in 2011, to launch The Times’s digital pay model. In the second quarter of this year, The Times generated more revenue from digital than from print for the first time in its 170-year history.
Mr. Sulzberger Jr. said, “Serving this essential institution and working alongside so many gifted journalists over the years has been the privilege of my life. There’s an old saying, ‘Laurels are nice to wear, but never to rest upon.’ I know A.G. will not rest in his drive to empower our journalists and expand the scope of The Times’s ambitions. And with a dynamic new C.E.O. and the best executive editor in the business, I depart knowing the best is yet to come.”
Brian McAndrews, the presiding director of The Times Company Board, said, “Arthur provided the leadership that has helped this company navigate the vast and varied challenges it has faced over the past four decades. He was unafraid to take risks and make big bets — from taking The Times global to introducing the digital pay model — and he did it all while never veering from his commitment to continual investment in Times journalism in order to keep it strong and independent. The success the company is enjoying today is a direct result of Arthur’s leadership over 40 years.”
Mr. McAndrews continued, “In three short years as publisher A.G. has demonstrated outstanding leadership skills and an unwavering commitment to The Times’s mission and values. He’s become a leading voice on the global stage in support of the principle that quality, independent journalism is critical to an informed and engaged society. And, he’s committed to the continued commercial success of The Times Company as the means to maintain its journalistic excellence. The Board believes he is the perfect person to step into Arthur’s large shoes as Chairman of the Company’s Board in January.”
