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Playboy Names Company Vet as New President; Christie Loses $1.7M

Former CEO would have pocketed windfall if the iconic company was sold by March 31.

Playboy Names Company Vet as New President; Christie Loses $1.7M

NEW YORK—Playboy Enterprises Tuesday announced the creation of a new position at the company and named the man who will fill it. Alex Vaickus, an 11-year veteran of the publicly traded company, will become president of the Chicago-based company, supervising all print, television and digital media operations as well as its digital media properties.

The company announced in a statement that Vaickus will report to Playboy Chief Executive Scott Flanders, who joined the company earlier this year from Southern California-based Freedom Communications.

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Scott Stephen, who currently oversees Playboy's digital operations, was also named executive vice president of Playboy's print and digital group, putting him in charge of Playboy’s iconic magazine, special editions of the magazine and other titles.

Flanders said in a statement that Vaickus, who joined Playboy in 1998 as a vice president of strategic planning, was promoted as part of an ongoing campaign to get the struggling Playboy to grow more efficiently.

In other Playboy news tuesday, the company also noted that former CEO would have pocketed a cool $1/7 million had the company been acquired by another entity by March 31, 2009.

According to ChicagoBusiness.com, "The publisher of the iconic magazine hadn't previously disclosed the change-in-control provision for Ms. Hefner, who resigned in January. The daughter of Playboy founder Hugh Hefner, she led the company as its CEO for 20 years."






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