Smith out as Hodder acquires Quercus

Mark Smith, chief executive of Quercus, is to leave the publisher following its sale to Hodder & Stoughton.

Hodder announced today (24th April) that all the conditions of its offer to buy Quercus have been met.

Quercus will become a separate division of Hachette UK alongside Hodder & Stoughton and Headline, under the management of Jamie Hodder-Williams.

Mark Smith, chief executive of Quercus, will leave the company but has “agreed to remain a consultant to help with the transition”.

Quercus staff will remain in the company’s current offices at 55 Baker Street, London, until Hachette UK moves to its new offices on Victoria Embankment at the beginning of next year.

All written contracts will be honoured, Hodder & Stoughton and Quercus said in a statement.

Hodder-Williams said: "I have long admired the exceptional authors at Quercus and its imprints, and the talented team who have created many bestsellers and prize-winners in a relatively short time, and I know my colleagues share my excitement at the potential within the business.

“Hachette has great resources that can support the creativity and energy within Quercus, and I am greatly looking forward to working with them to help their authors to reach more readers all over the world."