Bauer Media to close BauerWorks, with GM Eugene Varricchio to depart
Bauer Media has announced a major reshuffle to its executive line-up and the closure of its custom publishing arm – the first big announcement for the embattled publisher since Paul Dykzeul took over from Nick Chan as CEO.
BauerWorks will be “integrated into various parts of the Bauer Media business”, according to a release, with director of operations and general manager Eugene Varricchio to depart Bauer as part of the changes at the end of September.
Bauer Custom Media was rebranded to BauerWorks back in 2015 to “better reflect the multi-channel content marketing solutions ” it was offering. It sat independently of Bauer’s consumer divisions and primarily focused on clients’ owned media channels. It operated in an agency-style model which offered commercial partners the services of full in-house strategy, creative and client management teams, with the potential to amplify content through Bauer Media branded channels in partnership with the company’s digital network, Bauer Xcel.
You forgot to add, that they are cutting as much cost and getting it in a position to sell before Germany Bauer exits the Australasian market * with its tail between its legs due to arrogance, tough market conditions, misogynistic boys club exec and mismanagement at the top, over a period of years across the whole business.
* Allegedly
Shame, as there are some very talented people in there but the business model is completely compromised.
“We have a fantastic business”
You’d think after losing a court case for telling porkies in its magazines, the exec team would provide a more robust assessment….
How much lipstick can one pig wear?
I’m confused. This days the company will have only two GM Publishers but then at the end says there’s another one reporting to Dykzeul. Wouldn’t that make three??
Several weeks ago one of the best Bauer execs Keith Falconer quietly left the business after many years with little fanfare or public acknowledgement. A shame that the strong and sensible leaders with a clear vision and purpose like Keith, Eugene and Matt Stanton are lost from a business that desperately needs their kind right now.
Leadership is everything, you have to be kidding yourself. Those three you mentioned accelerated this terrible decline. At least falconer understood how content was created… but stanton and Varricchio saw editorial as a burden on the bottom line. But ultimately, it’s the hubris of the head office in Germany that has led to this steaming pile of dung once known as the almighty 54 Park. They kept the number boys in there to rip out costs and then allowed those same blokes to parrot Hamburg’s criticisms of the editorial product, making morale lower than a weekly mag’s circ audit.
Keith Falconer was CEO of Bauer Trader for 13 years. Mumbrella has made no mention of his very ‘quiet’ departure. In reference to one of the comments here – Keith Falconer was a buffoon who lacked any people skills what so ever, he was responsible for dragging that part of the business in to bad waters – he burnt people, like the majority of management at Bauer both in Australia, and overseas, treated them like pieces on a chess board – good riddance… Bauer will continue to fail – they have ‘no idea’ about the Aussie marketplace – Rebel Wilson was just the beginning of the end (Go Rebel!!!)