Richard P. Malloch was named Hearst executive vice president in 2018. He provides advice and counsel on issues across Hearst’s portfolio of businesses. Malloch is a member of the Hearst Board of Directors. He also serves on the boards of Fitch Group, CAMP Systems, Homecare Homebase, MedHOK and M2Gen.
Malloch has held a number of leadership positions at Hearst. He previously served as senior vice president of Hearst and president of Hearst Business Media, which delivers business data and software solutions to the financial, health and transportation industries worldwide. Malloch joined Hearst in 1991 as deputy group head of Hearst’s Consumer Book Publishing and Trade Magazine Group.
In the late 1990s, Hearst sold the consumer book business (William Morrow and Avon Books) to HarperCollins. Malloch looked to reinvest the proceeds from the sale and build a business–to–business operating group. Traditionally, Hearst’s trade publishing was based on print products with significant revenue generated from advertising. Malloch changed the strategy and business model, moving the Group toward revenue generated from subscriptions and licensing fees.
The Business Media companies have shown substantial growth in the past 10 years. Internal growth and product enhancements have been coupled with acquisitions to make the businesses significant contributors to Hearst’s financial performance, contributing more income than the traditional consumer media businesses. Malloch played an instrumental role in key acquisitions for the division including: Fitch Group, CAMP Systems International, MedHOK, Homecare Homebase, MCG Health and Zynx Health.
Prior to joining Hearst, Malloch served as a principal in the New York office of Morgan Stanley & Co., where he was involved in corporate finance and merger and acquisitions. Malloch has devoted most of his professional life to working with companies in the communications and technology industries. He was actively involved in expanding the Morgan Stanley media franchise to include: cable television, cellular telephone, entertainment and information technologies. Malloch also helped to develop the media practice in Europe and Asia.
Malloch began his career as a member of the policy staff to the assistant secretary of the U.S. Department of Energy in Washington, D.C.