Meredith names Stephen Lacy new president/CEO

By Staff | January 30, 2006 | 8:58 a.m. ET.

Meredith Corp.’s board of directors has elected Stephen M. Lacy as president and chief executive officer, effective July 1, 2006.

Lacy, 51, currently president and chief operating officer, will succeed William T. Kerr, 64, as CEO. Kerr will remain on the Meredith Board and serve as non-executive chairman. Lacy’s election is part of a planned succession and in line with Meredith’s historical practices.

“During his tenure at Meredith, Steve Lacy has proven to be an outstanding growth-oriented leader of successful, industry-leading businesses,” Kerr said. “Of equal importance, he is a great motivator who stresses communication and accountability. He is an exceptionally quick study and one of the hardest- working executives I’ve ever known. He’s collaborated with me on every key strategic initiative and decision over the last five years and is extremely qualified for this position.”

Lacy joined Meredith in February 1998 as VP/chief financial officer and was promoted to president of the Meredith Integrated and Interactive Marketing Group in March 2000. He was promoted to Meredith Publishing Group president in November 2000, and elected president and COO in May 2004.

During his tenure, Lacy helped engineer the purchases of the American Baby Group as well as Parents, Child, Fitness and Family Circle magazines, dramatically increasing Meredith’s reach to younger women. These successes, combined with extensive expansion and record-breaking performance by the company’s books, integrated marketing and interactive media operations, led to Lacy being named “Publishing Executive of the Year” by Advertising Age magazine in both 2003 and 2005.

Lacy has also played leading roles in Meredith’s efforts to expand its online and broadcasting footprints. Meredith’s 32 Web sites now generate 125 million page views from more than 10 million unique visitors every month. Under his watch, Meredith added network television affiliates in Kansas City, Mo.; Chattanooga, Tenn.; and Springfield , Mass.

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