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Penthouse says Guccione resigns as CEO

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NEW YORK: Penthouse International Inc., whose General Media Inc. unit publishes the adult magazine Penthouse, said on 6 November the magazine's founder, Robert Guccione, has resigned as chief executive officer.

 

In a press statement, the New York-based company said Milton Polland had been appointed chairman and acting CEO, while Claude Bertin was appointed executive vice president, secretary and director. "Both parties (were) appointed to fill vacancies created by the resignation of Robert Guccione and Charles Samel," it said.



Among recent securities filings, Guccione was identified on 25 September as Penthouse's chief executive, while Samel was identified on 30 April as executive vice president.



Penthouse magazine has struggled with a steep drop in sales as explicit content on the Internet lured away its traditional customers. General Media filed for Chapter 11 bankruptcy protection in August.

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