Quarto chief to step down
Wednesday 22 February 2012
The founder of Quarto Books, known for its illustrated "how-to" non-fiction guides, yesterday signalled he is ready for a new chapter as he is quitting as chief executive after 36 years.
Laurence Orbach plans to step down in around 12 months and has recruited a successor who will serve as chief operating officer during the handover. Quarto did not reveal his identity as he is still working for another company.
Mr Orbach, who founded Quarto in 1976 and floated it in 1986, said he is "relieved" and will remain chairman.
"Whether I'm ready or not, time will tell," added the 69-year-old, who was reporting a 21 per cent jump in pre-tax profits to $9.4m (£5.9m), with revenues up 6 per cent at $186.1m.
Mr Orbach said print sales remain strong because e-books have not replicated the appeal of illustrated books. One of last year's best-sellers was Decorate by Jacqui Small.
But he warned that as non-book retailers become more important, publishers must think of marketing their books as products.
- 1 Autism 'caused by genetics', study suggests
- 2 What happens to your body when you give up sugar?
- 3 Why you should never make assumptions about people with autism
- 4 Tourist films plane's descent just metres above packed Caribbean beach
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
Tourist films plane's descent just metres above packed Caribbean beach
Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
How Homer Simpson discovered the Higgs boson over a decade before scientists
The 'sex selfie stick' lets you FaceTime the inside of a vagina
Harrison Ford plane crash: Star Wars actor 'seriously injured' after light aircraft crash lands
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
iJobs Money & Business
£13000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...