NEW YORK (TIP): Indian American publishing executive Nihar Malaviya, currently president and chief operating officer of Penguin Random House’s American division, has been named interim chief executive officer of the publishing house. Malaviya will take up the new role starting Jan 1, 2023, from the current CEO Markus Dohle, who is stepping down, the publishing house announced.

“Nihar Malaviya to take over leadership of Penguin Random House as interim CEO – he is an outstanding leader and an entrepreneurial publishing professional who knows Penguin Random House inside out,” Bertelsmann group CEO Thomas Rabe tweeted. “I look forward to working even more closely with him.” Malaviya, who assumed his current position in 2019 will report to Rabe. He will also join Bertelsmann’s Group Management Committee (GMC), as well as continue to be a member of the Penguin Random House Global Executive Committee.

As interim CEO, Malaviya will “lead the creation of new competitive advantages that position the global company for future growth,” the publishing house said.

He began his career at Bertelsmann in 2011 as a participant in the Bertelsmann Entrepreneurs Program. In 2003, he moved within the group to Random House, taking over several positions including president and chief operating officer in 2014.

He “spearheaded the creation of a variety of industry-first capabilities in data science, supply chain, technology, and consumer insights, and led the successful operations and systems integration of Penguin and Random House—the largest-ever merger in trade book publishing,” according to a press release.

Malaviya is a two-time recipient of the Bertelsmann Entrepreneur Award for Strategy Execution and serves on the Bertelsmann Technology and Data Advisory Board. He holds an MBA in Finance and Marketing from the NYU Stern School of Business, as well as a Bachelor of Science in Computer Science. He is also a member of the board of Yale University Press. He resides in New Jersey with his wife and two children.