Dev Pragad

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Dev Pragad
Dev Pragad CEO of Newsweek
Born1984 or 1985 (age 39–40)[1]
India
CitizenshipBritish
American
EducationKing's College London
Harvard Business School[2]
OccupationBusinessman
Known forCEO and co-owner of Newsweek
TitlePresident and CEO of Newsweek
Board member ofKing's Trust USA, King's College London Impact Leaders[3]
Websitewww.devpragad.com

Dev Pragad (born 1984) is the British-American president and CEO of Newsweek. He is also co-owner of Newsweek acquiring a half-interest in 2018.[1] Under his tenure, Newsweek returned to profitability and reaches 100 million readers a month.[4]

Early life and education

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Pragad was born in India, grew up in the United Kingdom, and graduated from King's College London with a Bachelor of Engineering in computer science/electronics and a Ph.D in Electrical Engineering.[5] He relocated to New York and became an American citizen, with dual citizenship in the UK. He also completed the Owner/President Management program, an Alumni granting 2 year executive education program of Harvard Business School.[2][6][7]

Career

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Prior to becoming CEO of Newsweek, Pragad managed its international edition from London in 2014.[8] Like the other leadership of Newsweek, Pragad was a member of the Olivet community, a religious sect.[9] In 2018, following a fraud probe by the Manhattan district attorney into Olivet University, Newsweek was spun off as a standalone company, Newsweek Publishing LLC, from IBT Media with Pragad and Johnathan Davis each owning 50% of that company. Meanwhile, both Pragad and Davis left the sect.[10][11][12]

Pragad was the subject of a Harvard Business School case study published in 2021.[13] The case study focuses on the Newsweek digital transformation through the use of data collection and performance measurements to grow the publication's readers and revenue. Pragad is credited with turning around Newsweek, restoring it to profitability as a business.[1]

Under Pragad's leadership, Newsweek secured interviews with heads of state, including Prime Minister Narendra Modi of India and Prime Minister Fumio Kishida of Japan.[14][15] In April 2024, Newsweek magazine published a cover story on Modi, following an interview conducted by Newsweek along with global editor in chief Nancy Cooper at Modi's residence in New Delhi.[15] Pragad launched Newsweek Rankings, which has become the fastest-growing part of the business. Rankings include the World's Best Hospitals,[16][17][18] Auto Disruptor Awards,[19][20] and other corporate and employer rankings.[21]


Controversies

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In 2022, Pragad became involved in legal disputes with co-founder Johnathan Davis and former co-owner Etienne Uzac. The disputes focus on the 2018 ownership deal, which saw Pragad assume control of Newsweek. Davis and Uzac have accused Pragad of corporate misconduct, including unauthorized salary increases and manipulation of board decisions. Pragad has countered with claims of trade secret theft by Davis for the benefit of IBT Media, the former parent company of Newsweek.[22]

In 2023, Olivet University charged Pragad with defamation for Newsweek's coverage of Olivet's admissions of involvement in money laundering. The case was dismissed in 2024 by a judge who found the coverage was truthful.[9]


Other roles and honors

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Pragad is a member of the advisory board of the King's Trust USA.[23] He is an honorary fellow of King's College London and a member of the King's College London Impact Leaders Board,[3][1]


References

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  1. ^ a b c d Gale, Adam (April 5, 2022). "Dev Pragad: The Man Who Saved the News". Management Today.
  2. ^ a b "Owner/President Management | Executive Education". Harvard Business School. Retrieved August 21, 2024.
  3. ^ a b "King's Impact Leaders Board". London: King's College London. 2024. Retrieved July 25, 2024.
  4. ^ "Dev Pragad, CEO of Newsweek". The CEO Magazine. Retrieved January 1, 2024.
  5. ^ "Benefitting from Time in a Virtual World". Harvard Business School. Retrieved April 29, 2024.
  6. ^ "Alumni Network | Executive Education". Harvard Business School. Retrieved August 21, 2024.
  7. ^ "Leading Growth and Transformation | Executive Education". Harvard Business School. Retrieved August 23, 2024.
  8. ^ "Newsweek makes London the centre of its world". The Drum. Retrieved January 6, 2024.
  9. ^ a b "Olivet Univ. v. Newsweek Dig., 23 Civ. 5670 (NRB) | Casetext Search + Citator". casetext.com. Retrieved November 4, 2024.
  10. ^ "Newsweek Media Group Splits into Separate Companies: Newsweek, IBT Media". www.mediapost.com. Retrieved January 6, 2024.
  11. ^ Rouhandeh, Alex J.; Jamali, Naveed (June 29, 2023). "Newsweek Shareholders End Legal Dispute, Co-owner Davis Leaves Olivet Sect". Newsweek.
  12. ^ Bruell, Alexandra (July 29, 2022). "Newsweek Engulfed in Legal Drama as Co-Owners Sue Each Other". The Wall Street Journal.
  13. ^ Appelgate, Lynda M.; Srinivasan, Surja (February 2022) [October 2021]. "Newsweek: Driving a Digital First Strategy - Case 822-052 - Faculty & Research". www.hbs.edu. Harvard Business School. Retrieved July 25, 2024.
  14. ^ O'Connor, Tom (April 29, 2024). "'Most complex security environment since WWII,' says Japanese PM". Newsweek. Retrieved April 29, 2024.
  15. ^ a b Bhat, Danish Manzoor (April 10, 2024). "Modi's Moment: How Narendra Modi is Changing India and the World". Newsweek. Retrieved April 22, 2024.
  16. ^ "The top risers on Newsweek's 'World's Best Hospitals' list". www.advisory.com. Retrieved February 24, 2024.
  17. ^ Taylor, Mariah (September 14, 2023). "World's top specialized hospitals by specialty, per Newsweek". www.beckershospitalreview.com. Retrieved February 24, 2024.
  18. ^ "Ranking - Worlds Best Hospitals 2023". Statista R. February 27, 2023. Retrieved February 24, 2024.
  19. ^ Mast, Garrett (April 4, 2023). "Akio Toyoda Honored as Newsweek's 'World's Greatest Auto Disruptors' Executive of the Year". Toyota USA Newsroom. Retrieved February 24, 2024.
  20. ^ Global, K. E. D. "Hyundai Motor wins Newsweek World's Greatest Auto Disruptors Awards". KED Global. Retrieved February 24, 2024.
  21. ^ "Newsweek Rankings". www.newsweek.com. Retrieved January 7, 2024.
  22. ^ Battles, Corporate Legal (October 20, 2024). "Corporate Betrayal and Legal Warfare: Dev Pragad's Tumultuous Reign as Newsweek CEO Amid Fraud…". Medium. Retrieved October 20, 2024.
  23. ^ "About Us". The King’s Trust USA. Retrieved April 29, 2024.
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