Penguin Random House, the biggest publishing house in the US, issued a statement on Monday on the dismissal of the publishers of two highly acclaimed literary imprints. Most people in the corporation were also shocked by the firing of Reagan Arthur, the publisher of Alfred A. Knopf, and Lisa Lucas of Pantheon and Schocken.

Dismissal of Top Publishers

Lucas announced on X (formerly Twitter) that she discovered her dismissal at 9:30 a.m. on Monday, expressing regret about working over the weekend. Maya Mavjee, the president and publisher of Knopf Doubleday, acknowledged in a memo to employees that the news of the departures of Lucas and Arthur would likely unsettle many.

Lucas and Arthur were high-profile hires brought to the company in recent years. Mavjee stated in the memo that restructuring the imprints was necessary for future growth.

According to Mavjee, Pantheon's editorial department will now report to Doubleday. Jordan Pavlin, the chief editor of Knopf, will also take up the publisher role. Pavlin has edited best-selling and honor-winning writers such as Maggie O'Farrell, Yaa Gyasi, and Tommy Orange. 

Cost-Cutting Measures Due to Low Print Sales

An unidentified insider with relevant information revealed that Lucas' departure from Pantheon was a cost-cutting move without a prearranged successor. The publishing house and other large publishers are facing financial risks due to poor print sales and increased supply chain costs. According to the Association of American Publishers, publisher sales decreased minimally in the first quarter of the year. 

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Over the last two years, the said publishing house has had difficulties. Their attempt to buy Simon & Schuster was stopped due to antitrust issues, resulting in a $200 million fee and the resignation of CEOs Markus Dohle and Madeline McIntosh. The new CEO, Nihar Malaviya, has cut costs by downsizing and restructuring while buying smaller publishing companies to grow. Last year, the company offered buyouts to long-time employees and laid off about 60 people.

Leadership and Legacy in Publishing

After serving as the executive director of the National Book Foundation for eight decades, Lucas was appointed Pantheon's publisher in 2020, becoming the first Black publisher in its history. During her tenure, she struck a two-book deal with LeVar Burton. She published Nana Kwame Adjei-Brenyah's "Chain-Gang All Stars," a finalist for the National Book Award. 

Arthur previously worked at Little, Brown as a publisher. She became the publisher at Knopf when the former head of the company, Sonny Mehta, who oversaw the company for over 30 years, died. She approached the latter directly and conducted major works like Bono's "Surrender" memoir and Ian McEwan's "Lessons." Arthur also personally edited bestselling titles, including Bono's memoir, "Surrender," and Ian McEwan's novel "Lessons."

Lucas expressed gratitude for her time in the publishing industry on X (formerly Twitter), stating she is now a free agent and considering future opportunities.

Adjei-Brenyah expressed appreciation for Lucas in an X post, commending her for transforming Pantheon into one of the industry's most diverse imprints and expressing disappointment over her departure before completing five years in the position. Similarly, Nina McConigley shared her excitement about joining Pantheon, citing Lucas as a primary reason for her enthusiasm and describing her as an inspirational figure.

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