Meredith's New Media Strategies Founder & CEO Pete Snyder to Step Down From Executive Duties at End of 2011
(PRESS RELEASE) WASHINGTON, Dec. 15, 2011 /PRNewswire/ -- New Media Strategies (NMS) and Meredith Xcelerated Marketing (MXM) announced today that Founder & Chief Executive Officer Pete Snyder will step down from executive duties at the company at the end of the year. Effective January 1, 2012, Jack Macleod, Vice President of Sales for New Media Strategies, will serve as interim General Manager of the company.
Snyder founded New Media Strategies in 1999 and built the company into one of the country's foremost social marketing agencies. Recently, both The Washington Post and Fox Business lauded New Media Strategies as "the first and the world's largest social media marketing company." Meredith Corporation (NYSE: MDP) acquired NMS in January 2007 as part of its very successful strategy of transforming its marketing service arm – Meredith Xcelerated Marketing – into one of the nation's leading custom digital marketing specialists.
"Twelve years after creating New Media Strategies, the world's first social media marketing agency – and five years after selling the company to Meredith – I've decided it's time to start the next chapter," said Snyder. "I want to thank my amazing team at New Media Strategies for everything they have contributed and accomplished over the years. It's every entrepreneur's dream to start a company out of his one-bedroom rental apartment and grow it into the largest and most successful player in the industry."
Regarding future plans, Snyder will launch a new business venture that will provide seed and angel capital to entrepreneurs and start-up companies. Snyder's move will be non-competitive, as he will remain affiliated with New Media Strategies as Founder, and will be a senior advisor to the company and to Meredith.
Additionally, Virginia Governor Bob McDonnell recently asked Snyder to serve as Chairman of the 2012 Victory Campaign, which encompasses the Presidential, U.S. Senate and 13 Congressional elections in the Commonwealth of Virginia.
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