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NYT founding family member joins the business

David Perpich, fifth-generation of the founding Ochs-Sulzberger family, has joined the New York Times Company as an executive director for the website of the company's flagship title The New York Times.

Perpich, who is the nephew of company chairman Arthur Sulzberger Jr (pictured), joined the business from consulting firm Booz & Co and will work on paid products at the nytimes.com.

The 32-year-old is the latest fifth-generation member to join the business. Carolyn Greenspon was nominated earlier this year for a seat on the board, Samuel Dolnick joined the company as a staff reporter in September 2009 and Arthur Gregg Sulzberger, son of chairman Sulzberger Jr, also works for the New York Times as a staff reporter. The family retains voting control of the company board through its class B voting shares.

On the face of things, 2009 was a good year for the publishing company, which posted an overall profit of $19.9 billion. However, after losses of $57.8 million in 2008, the business was forced to make major cutbacks, including the sale of major assets, meaning the profits were not drawn from organic growth. (Click here to read our coverage of the story)

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