Regardless of how you feel about publishers, e-books, the battle over the agency model, and the actions of the Justice Department, there is much to admire when a CEO takes personal responsibility. Here is Macmillan's CEO John Sargent describing his decision:
It is also hard to settle a lawsuit when you know you have done no wrong. The government's charge is that Macmillan's CEO colluded with other CEO's in changing to the agency model. I am Macmillan's CEO and I made the decision to move Macmillan to the agency model. After days of thought and worry, I made the decision on January 22nd, 2010 a little after 4:00 AM, on an exercise bike in my basement. It remains the loneliest decision I have ever made, and I see no reason to go back on it now.
Read Shawn Coyne's take at the Steven Pressfield blog and also be sure to read Sargent's full statement.
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