Friedman steps down as c.e.o of Open Road

Jane Friedman will move to become chairman of Open Road Integrated Media, while Paul Slavin has been named the new c.e.o.

Friedman co-founded Open Road in 2009 and will move from her position as c.e.o to become chairman and executive publisher. Slavin, who joined the company in September, will concentrate on creating new revenue streams for the digital publisher "through media and e-commerce", in a market where e-book sales are slowing.

Friedman was previously at HarperCollins worldwide and Slavin joined Open Road from Everyday health after 30 years’ experience at Walt Disney Company and ABC news.

Friedman will continue to support the company’s efforts to acquire e-books.

She said: “I know that Open Road’s authors, partners, and staff will work incredibly well with Paul. His experience in developing successful digital media companies, his business acumen, and his deep appreciation for media position him well to capitalize on the incredible growth that we’ve seen. And he’s someone who understands the value of our books and authors.”

Slavin added: “Jane Friedman is an industry legend, and it is a privilege to work with her… I believe that we have the right strategies, practices, and creative energy to continue in this direction.”

Open Road has built an e-book catalogue of more than 10,000 titles from more than 2,000 authors including  Iris Murdoch, Pearl Buck and Mary McCarthy.

Despite raising nearly $29m in equity and debt financing, the company has not generated a profit yet, according to Publishers Marketplace.