Edward Volini Steps Down at Random House

Random House Chairman and CEO Markus Dohle sent the following letter to his colleagues regarding the departure of Edward Volini, deputy chairman and chief operating officer:

September 2, 2008

TO EVERYONE AT RANDOM HOUSE NORTH AMERICA,
It is with great regret that I inform you that EDWARD VOLINI has decided to step down as Deputy Chairman and Chief Operating Officer and will leave the company effective September 30.

Ed has had a very distinguished career at Random House, beginning in May 1997 at Ballantine Books, where he rose to Executive Vice President, Deputy Publisher. Since 2001, he has played a crucial role in the worldwide company’s financial and operational management and strategic development. Previously as Chief Administrative Officer and Chief Financial Officer and in his current position he has been a valued decisionmaker, strategist, analyst, mentor and leader for our financial, sales, human resources, legal, and administrative services, and for Random House of Canada, which he oversaw. Earlier this year, he was a driving force in our acquisition of The Monacelli Press and Watson-Guptill Publications.

Ed has been instrumental in making Random House the leader in our industry. I know you join me in thanking him and in wishing him every future success.

With Ed’s departure, the positions of Deputy Chairman and Chief Operating Officer will not continue. His direct reports will be my responsibility effective October 1. I very much appreciate your support during this transition period.

MARKUS DOHLE
CHAIRMAN AND CHIEF EXECUTIVE OFFICER
MEMBER OF THE EXECUTIVE BOARD OF BERTELSMANN AG