James Johnston has been promoted to chief financial officer (c.f.o) of Penguin Random House, in a dual US and global role.
Johnston, who has spent almost three decades at the publisher, has been leading the publisher's finance group, reporting to PRH c.e.o. Markus Dohle, since the departure of former c.f.o. Milena Alberti at the end of last year. Like Alberti, he will also have a seat on the Global Executive Committee and US Board.
Johnston, who has been deputy c.f.o. at the publisher since 2015, and will oversee strategic and operational finance, including analysis, planning, and reporting.
Dohle paid tribute to Johnston’s contribution to PRH, describing him as "not only a dependable adviser to me and to our [leadership team] around the world, but also to our publishers and business managers”.
"With 28 years of experience at our company, Jim has been a significant and valued contributor to the development and success of Random House and Penguin Random House," Dohle said.
"Simply stated, Jim understands inside and out how our company ticks and works, and he consistently demonstrates a considered pragmatism, natural calm, and genuine enthusiasm for our publishing efforts. Through his astute analysis and insights, Jim plays a key role supporting our decisions regarding content acquisitions, sales, and publishing operations. Jim’s leadership on our finance team and across the company has been characterised as solutions-minded, collaborative, and service-oriented."
Dohle also talked about expanding more through building on mergers and acquisitions.
"Manuel and his team members Lev Polinsky and Cara Deedy have been closely collaborating with Jim and me, and our colleagues in legal and corporate development, to identify and evaluate nonorganic growth opportunities—with many closed transactions in recent years a testament to their great work,” he said. "As we look to the future, capitalising on those mergers and acquisition opportunities remains a central element to the implementation of our global growth strategy and a top priority for our company."
Manuel Sansigre, v.p. of global mergers and acquisitions for PRH, will continue to work with Jim but will report directly to Dohle.