It hasn’t been the greatest year for Reader’s Digest.
The struggling company is currently in the midst of its Chapter 11 bankruptcy reorganization process. The company is about to vacate its longtime Chappaqua campus. In January, it had laid off 300 employees. The list continues.
The publication, whose office walls once included original works of fine art (ever heard of Picasso? Monet, perhaps? Maybe van Gogh or Matisse?), now holds numerous prints and posters detailing the company’s corporate goals. Many of those goals—namely, the company’s new FACE plan—are the brainchild of Mary Berner, president and CEO of Reader’s Digest.
FACE stands for fast, accountable, candid, and engaged—and is part of Berner’s plan to reinvent and modernize the company admist changing times and a rough economy. Reader’s Digest will soon be a small part of a soon-to-be-named new company that will include numerous websites (such as AllRecipes.com) and magazines (Every Day With Rachel Ray, for example).
Will Berner’s plan work?
