Source: Playboy.com, Inc.
By: Company Press Release
(CHICAGO, IL) — Playboy.com, Inc., a wholly owned subsidiary of Playboy Enterprises, Inc. (NYSE: PLA – news) today said that it elected Lawrence R. Lux president and a member of the company’s board of directors. He will replace Kevin Mayer, who has decided to leave to pursue other opportunities.
Lux, 41, has more than 12 years of experience in the Internet industry. As senior vice president and managing director of National Geographic Interactive, he created a multimedia business based on National Geographic magazine and brought it to profitability. He also served as CEO of Pseudo Programs Inc., which creates a range of video programming for online viewing, and, most recently as CEO of Sudden Industries, a digital studio.
Christie Hefner, chairman of both Playboy Enterprises and Playboy.com, said: “Larry brings an extraordinarily wide range of organizational and management skills to this position. His background in translating a globally recognized franchise like National Geographic into a profitable Web enterprise resonates well with our work in turning the Playboy brand into an online success story. His experience with Pseudo’s online TV network will be invaluable, as video streaming will become a key component of our online business going forward. In addition, Larry is a strong business builder who offers the leadership skills needed to grow our online business at a dynamic pace and to lead the company through its planned initial public offering.”
“I am very excited about the opportunity to take the world’s pre-eminent men’s brand and extend and enhance its power,” said Lux. “In addition to content and marketing, my primary near-term focus will be to use the resources and assets of the company to bring the online venture to profitability.”
Mayer will remain in place until Lux arrives, at which time he also will resign his board seat. “Kevin successfully expanded our business both terms of growing revenues and increasing traffic. He leaves us in significantly stronger shape than when he arrived and we wish him all the best in his future endeavors,” Hefner said.
Lux holds a BA in marketing and finance from the University of Cincinnati and an MBA in international business from Xavier University. He began his career with Cincinnati Bell telephone, where his titles included director of electronic media and director of business development. Prior to joining National Geographic, he was vice president of product management and marketing at CollegeView Partners.
Lux will be based in Playboy’s New York offices.
Playboy.com is a wholly owned subsidiary of Playboy Enterprises, Inc. (NYSE: PLA – news), an international multimedia entertainment company. Playboy.com operates Playboy-branded Web sites targeting the entertainment and lifestyle interests of young men, including: Playboy.com ( www.playboy.com ), an advertising and e-commerce-supported Web site that offers a range of entertainment, information and e-commerce; Playboy Cyber Club ( cyber.playboy.com ), a subscription site featuring premium Playboy content and exclusive online events; the Playboy Store ( www.playboystore.com ), which sells Playboy-branded products; and Playboy Auctions ( auctions.playboy.com ), which auctions Playboy- branded merchandise and admission to Playboy events, and allows fans to auction their own Playboy memorabilia and collectibles. Playboy.com also operates Cyberspice.com ( www.cyberspice.com ), a site featuring premium adult entertainment under the Spice brand.
