Bhaskar steps down as Canelo publishing director to focus on writing and AI research 

Co-founder and publishing director of Canelo, Michael Bhaskar, is stepping down from his executive role in January to focus on full-time writing and research around AI. 

Canelo was founded in early 2015 and has gone on to become one of the UK’s fastest growing new publishers, with turnover approaching £5m and two nominations for Independent Publisher of the Year at the British Book Awards.

Beginning as digital-only, it now publishes fiction and non-fiction in hardback and paperback across the trade and internationally, while staying loyal to its roots in also emphasising the importance of e-book and audio editions.

Having co-authored the New York Times and Sunday Times-bestselling The Coming Wave: AI, Power and the 21st Century’s Greatest Dilemma (Bodley Head) with technology entrepreneur Mustafa Suleyman, Bhaskar is now taking the chance to do more work in that space. He will remain closely involved in Canelo and will retain a seat on the board as a non-executive director.

He said: “Leaving a comfortable job to start a new business felt, at the time, like a difficult if exciting decision. But it’s nothing compared to the decision to leave it. I’m so proud of everything we have achieved. We’ve sold over 20 million books and given hundreds of millions of hours of entertainment to people in 197 countries. We’ve still got the best royalty rates of any publisher we know.

"I’ve been privileged to have worked with so many extraordinary authors, partners and colleagues, a life-changing and life-enhancing experience that has taught me so much. I’d like to pay a particular tribute to my long-suffering and truly brilliant co-founders for all their dedication, support and incredible spirit, and look forward to an exciting new chapter not just for myself, but for Canelo.”

Iain Millar, co-founder and managing director, said: “Michael is one of, if not the, best publishing people I’ve had the honour of working with. When we were a lot younger, we’d meet up over a game of pool, and say this is how the book industry should be. It turned out to be not quite so straightforward, but the principles we talked about then – higher royalties, prioritising digital more, packaging better, recognising talent quicker, offering what readers really want as opposed to what we think they should want – all of that still stands. 

“It’s typical of his foresight, but also his grit, that we’re still here making that case, and still making a difference to so many authors and readers. He leaves an incredible legacy at Canelo, especially in the authorial talent we are privileged to work with.

"Over recent months he has put in place a long-term plan that will see us enter an exciting new phase for the business; we’ll be announcing more soon, but this represents a significant change that takes us forward into our second decade with continued growth, a rebuilt company structure, expanded and new roles, and major initiatives in areas of publishing like non-fiction.

“In the meantime, we thank Michael immensely for everything, look forward to working with him as a non-exec, and to reading his work on AI, a crucial issue for publishers to navigate.”