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Bob Burnett Appointed Chairman of National Auto Research; Tom Cross Promoted to President
| Source: Hearst
NEW YORK, NY -- (MARKET WIRE) -- March 8, 2007 -- Hearst Business Media, a unit of Hearst
Corporation, has named Bob Burnett to the newly created position of
chairman of National Auto Research (NAR), publisher of the respected Black
Book family of vehicle appraisal guides. Tom Cross, formerly senior vice
president and general manager of Black Book, will replace Burnett as
president of NAR. The announcement was made by Richard P. Malloch,
president of Hearst Business Media. Both appointments are effective
immediately. Both Burnett and Cross will report to Malloch.
Cross will handle the day-to-day business duties of running National Auto
Research. As chairman, Burnett will oversee the successful integration of
Veretech -- a private technology company recently acquired by Hearst --
into the Hearst Business Media unit. Veretech operates one of the most
successful online vehicle trade-in and sales lead generation applications
now used by more than 2,000 consumer retail Web sites, manufacturer sites
and Web portals.
Commenting on the announcement, Malloch said: "The automotive industry has
evolved tremendously over the past few years, and our Division has expanded
along with it by acquiring new properties, including Veretech, making wise
investments and implementing successful internal initiatives. Both Bob, who
joined Black Book in 1979, and Tom, who joined Hearst in the Motor
Information Systems unit in 2000, have produced excellent results for
Hearst Business Media and I'm delighted that they'll be taking on greater
responsibilities."
Burnett commented: "It is a great honor to be named chairman of NAR. Since
joining the company, I've seen first hand the transformation of the
industry and Hearst's commitment to providing the most accurate information
available to our clients. In my new role, I'm looking forward to focusing
my efforts on our new acquisition of Veretech, which is well positioned for
further growth."
Cross said: "I've been in the automotive industry for more than 20 years
and what impresses me most is our customers' high regard for the Black Book
brand. One of my main goals as president is to continue that tradition
while expanding our range of products and services."
Burnett has received many industry awards, most notably being elected to
the National Auto Auction Association's Hall of Fame in 1999. Cross, who
earned an MBA from the University of Chicago, is also recognized as a
leader in the automotive industry.
Hearst Business Media (HBM) (www.hearst.com/business_media), a division of
Hearst Corporation, operates more than 20 business-to-business information
services, electronic databases, and publications. The group has holdings in
the automotive, electronic, medical/ pharmaceutical, and finance
industries.
Hearst Corporation (www.hearst.com) is one of the nation's largest
diversified media companies. Its major interests include 12 daily and 30
weekly newspapers, including the Houston Chronicle, San Francisco
Chronicle, San Antonio Express-News, and Albany Times Union; nearly 200
magazines around the world, including Cosmopolitan, Good Housekeeping, and
O, The Oprah Magazine; 29 television stations through Hearst-Argyle
Television (NYSE : HTV ), which reach a combined 18% of U.S. viewers; joint
venture interests in leading cable networks, including Lifetime, A&E, The
History Channel and ESPN; as well as business publishing, including a joint
venture interest in Fitch Group; Internet businesses; television
production; newspaper features distribution; and real estate.