Golden Books has announced the appointment of two executives to new positions. Stephen Weitzen, who joined Golden last year to head its value publishing operation, has been given the additional role of president of the company's international division.
In a second change, Patty Sullivan, formerly executive v-p and publisher, has been named executive v-p and managing director of a new business unit, special markets. The new group will focus on selling to nontraditional markets such as book clubs, home shopping, Internet commerce and supplementary education. Both Sullivan and Weitzen will report to Rich Collins, Golden's chief operating officer.
Golden's stock, meanwhile, continues to sell for less than $1 per share. It reached a low of 12 cents on September 29, and closed at 16 cents per share September 30. Longtime Golden investor Mario Gabelli, who at one time owned about 25% of Golden's stock, has been steadily reducing his stake and as of September 24 had cut his interest in the company to 5.5%.
