Bonnier Corp., the U.S. subsidiary of Stockholm, Sweden-based Bonnier AB, announced Friday that CEO Terry Snow is retiring.
Dave Freygang, who has been executive vice president of the Active Interest division, will succeed Snow, the company announced.
Snow and Freygang have their roots in World Publications, with Snow as its founder and chief executive and Freygang as its chief financial officer, according to a report by Folio. Bonnier AB bought World Publications in the spring of 2006 and renamed it Bonnier Corp. after buying 18 titles from Time Inc. a year later.
The deal at the time made Bonnier a 40-title publisher with $350 million in annual revenue, according to Folio.
Snow is retiring after serving six years as CEO of Bonnier Corp. and 28 years as CEO and founder of World Publications, according to Bonnier. Snow started World Publications in 1978 by creating WaterSki magazine and oversaw the growth of the business. Snow will continue his involvement at Bonnier as a board member and shareholder.
Freygang has more than 23 years of experience at Bonnier (and formerly World Publications). Originally hired as chief financial officer of World Publications, he expanded his responsibilities by overseeing magazine groups in the early 1990s. As head of Bonnier's Active Interest division, Freygang was responsible for 33 brands, including Yachting magazine.
Bonnier’s other marine titles include Boating, Cruising World, Sailing World and Saltwater Sportsman.