NEW YORK, Oct. 20 /PRNewswire/ -- RDA Holding Co., parent company of The Reader's Digest Association, Inc., announced today that it has appointed Fredric G. Reynolds as Chairman of its Board of Directors, replacing retiring Board Chairman Norman Matthews. Mr. Reynolds has served as a director of the company since February 2010.
"Fred has made important strategic contributions since joining our Board and provides tremendous industry insight and financial rigor that reflect his knowledge and depth of experience in the media and digital industries. His familiarity with our company and experience on corporate boards will ensure a smooth transition into his expanded role, and the Board and I look forward to working with Fred," said Mary Berner, President and Chief Executive Officer of Reader's Digest Association. "The Board is indebted to Norman for seeing the company through a transition period and helping put us on a path to success."
Commenting on his appointment, Mr. Reynolds said, "I am extremely honored to take on a greater role in the Company. I look forward to working more closely with my colleagues on the Board and with CEO Mary Berner and her team as we continue to implement the strategic plan we believe will drive the long-term value of RDA."
Mr. Reynolds served as Executive Vice President and Chief Financial Officer of CBS Corporation since 1997 until his retirement in August 2009. Prior to that, Mr. Reynolds served as President of Viacom Television Stations Group, as Executive Vice President and Chief Financial Officer of Viacom Inc. and as Executive Vice President and Chief Financial Officer of Westinghouse Electric Corporation. Mr. Reynolds is a member of the Board of Directors of Kraft Foods, Inc. where he serves as chairman of the Audit Committee and a member of the Finance Committee. He is also member of the Board of Directors of AOL, Inc., where he serves as Chair of the Executive Committee and Lead Director, as well as serving on the Audit and Finance Committee.
"RDA's management team led by Mary Berner is strongly positioned to lead the company forward and I look forward to seeing its continued success," said Mr. Matthews.
RDA is a global media and direct marketing company that connects more than 130 million consumers around the world with products and services from trusted brands. With offices in 43 countries, the company reaches customers in 78 countries, publishes 91 magazines, including 50 editions of Reader's Digest, the world's largest-circulation magazine, operates 78 branded websites and sells 40 million books, music and video products across the world each year. Further information about the company can be found at www.rda.com.
SOURCE RDA Holding Co.