Nelson Maione, who Mr Bachmann is replacing, is retiring after more than 40 years at Hearst Corporation and will become a consultant to the company.
Mr Bachmann was formerly assistant group finance and administrative officer for Hearst Entertainment & Syndication, and has been with Hearst since February 1996. Prior to Hearst, he held accounting positions at Reliance Group Holdings and W.R. Grace & Co.
Mr Maione is retiring after a successful tenure as group finance and administrative officer of Hearst Entertainment & Syndication. Prior to that, he served as vice president and resident controller of Hearst's Books/Business Publishing Group since its formation in 1979.
Mr Maione joined Hearst Corporation in 1971 as an accounting manager for Hearst Magazines. He was named assistant controller of Hearst Magazines in 1976.
Hearst Corporation's major interests include ownership of 15 daily and 38 weekly newspapers. Hearst Entertainment & Syndication is a unit of Hearst Corporation.
Scott Sassa, president of Hearst Entertainment & Syndication, said: â€œMr Bachmann has been instrumental in expanding and strengthening the many dynamic properties within the Entertainment & Syndication Group. His expertise continues to be integral to our success and I applaud him on this well-deserved promotion.
â€œMr Maione has made significant contributions to Hearst over the past four decades. We express our sincere appreciation for his service to the Company and are pleased that he will continue to serve as a valuable resource to us.â€
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