Penske Media Corporation has announced that Craig Perreault, PMC’s chief strategy officer, has been promoted to the role of president of media & corporate development. He succeeds George Grobar, who will transition into a role advising the CEO of PMC after 16 years with the company. Grobar will continue to serve on Penske Media’s board of directors and support the company in a part-time capacity.
As president of media & corporate development, Perreault will oversee all revenue initiatives across PMC’s 26 media brands in addition to strategic corporate development and partnerships. He will continue to report to Jay Penske, chairman and CEO of PMC.
“Craig has been with me almost since day one, playing an integral role in building and driving this business forward,” said Penske. “Over the years, he’s worn many hats across the organization and developed a truly unique understanding of the complexities of our business. His deep expertise, natural ability to adapt, and unwavering nimbleness have always set him apart. I’m excited to see the impact he will make in his new role.”
Perreault joined PMC 21 years ago, shortly after the company’s founding. In his previous role as chief strategy officer, he led PMC’s business development, strategic partnerships and revenue initiatives across the company’s portfolio of leading brands. In addition, he oversaw the head of industry sales (HOI) team, and the international licensing and product licensing divisions.
During his tenure at PMC, Perreault has also served in several senior roles, including chief digital officer, senior VP of business development, VP of products & strategic partnerships, GM of Mail.com and senior director of business development.
“I’m excited for the opportunities ahead and look forward to continuing my journey with the incredible people and brands at PMC,” Perreault said. “This marks my 21st year at the company, and I feel well-positioned to carry forward PMC’s core mission. Despite the challenges we face in today’s market, I believe there will always be a place for information, experiences, and entertainment of the highest quality.”
Grobar joined PMC in 2009 as chief financial officer, where he played a pivotal role in the company’s growth by leading several brand acquisitions, establishing joint venture operations in India, and successfully integrating many of PMC’s iconic brands. He was promoted to chief operating officer in 2018, overseeing PMC’s music and entertainment brands, as well as the company’s operating units and business strategy. Since 2021, Grobar has served as PMC’s president.
“George is one of the greatest executives I’ve ever had the chance to work alongside, he’s a trusted friend, impactful leader, and one of the shrewdest business minds I know,” said Penske. “I feel so fortunate for 16 years of partnership and remain excited about our continued collaboration for many more years to come. George’s contributions to this organization are indelible and have no doubt been instrumental in making PMC the company it is today.”
Grobar added, “The last 16 years have been exhilarating, witnessing the creation and build of the most extraordinary media and events companies in the world. I am grateful for my PMC family, the numerous talented executives, and for the opportunity to continue working closely with Jay.”
(Image: George Grobar, Craig Perreault)
