PCH President Bruce Pantano to Retire
PCH chairwoman and CEO Robin B. Smith will take over the role of president. Pantano had succeeded Smith as president and COO upon her promotion to her current positions in August, 1996.
Pantano, 60, had been with the marketer of magazine subscriptions for 24 years and although his family situation had been building for 15 months, according to a company spokesman, his retirement came as a surprise to employees.
The practices of PCH and other sweepstakes marketers have come under increased scrutiny from Congress and other federal and state agencies in the past year but the spokesman said that pressure was not a factor in Pantano's decision. "He was torn between family and work,'' the spokesman said.
His departure "involves a little bit of reshuffling'' within the company, the spokesman said. Specifically, executive vice president Andy Goldberg and the company's chief marketing people who had been reporting to Pantano will now report directly to Smith.
Employees were notified of Pantano's retirement on April 9 and 11 but the company does not plan to release a public statement.