Outgoing New York Times CEO On The Stock’s 400% Run And What Happens There If Donald Trump Loses
New York Times CEO Mark Thompson is stepping down after eight years running the company. He says he expects there will no longer be a physical New York Times paper in 20 years. He acknowledges Donald Trump’s presidency helped with subscription additions but predicts the losing side of the 2020 presidential election will argue about its legitimacy, leading to even more news in the decade to come.
A View from the Top is a Q&A series exclusively available on CNBC Pro. Alex Sherman will regularly speak with a business leader about decision-making, investing and industry news.
When Mark Thompson took over as The New York Times Company chief executive officer in 2012, the company’s shares traded around $9 a share. Today, The New York Times trades at more than $46 per share. That 400% gain has been driven by a digital transformation that seemed unlikely to go smoothly when Thompson took the reins.
Thompson has announced he is stepping down as CEO in September. He’ll be replaced by Meredith Kopit Levien.
Thompson explains to CNBC how he changed the company’s definition of digital, what may happen to subscriptions if President Donald Trump loses to Joe Biden in November, and why there won’t be a print edition of The New York Times in 20 years.
– CNBC.