Playboy CFO Linda Havard Steps Down
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With some activity on the sale front appearing to be in full swing, Playboy Enterprises (NYSE: PLA) says CFO Linda Havard will step down on December 31. Havard, who had been in the role for 12 years, did not say where she would be headed next. In a statement, Havard said only that she’s looking forward to “new challenges in the next stage of my career.” As she heads to the exit, Playboy finds itself at its most vulnerable point since its first issue hit the stands 56 years ago.
Playboy has been looking for a buyer willing to pay about $300 million for its various assets, which beyond the magazine, includes cable TV and interactive properties. Right now, the most attractive part of Playboy is its licensing arm. So far, two bidders have reportedly come forward with offers: former Playboy Entertainment chief James Griffiths, who has teamed up with PE firm Golden Gate Capital, and Iconix Brand Group, the company behind apparel brands like London Fog and Starter.
SEE ALSO: Former Exec Griffiths Also In Talks To Buy Playboy
The resignation of Havard could mean that a deal is close at hand. In the meantime, Playboy says it will seek a replacement immediately. Release
Posted In: Industry Moves, Media & Publishing, Magazines
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