Penske Appoints SVP of Licensing and Brand Development

Penske Media Corporation has appointed Rachel Terrace to the role of senior vice president, licensing and brand development.

In the new role, Terrace will lead licensing and brand extension activity in the U.S. across Penske Media’s portfolio of brands. She will report to Craig Perreault, chief digital officer, Penske.

“Rachel’s experience in branded consumer products and licensing will further enhance PMC’S ability to grow its revenue across the portfolio,” says Perreault. “We are thrilled to have her on board.”

Terrace brings a 20-year track record in the licensing and brand management space to her role.  Prior to joining PMC, she was the founding chief marketing officer of TIME'S UP, the non-profit organization advocating for gender equity at work. At the organization, she led partnerships, merchandise creation and brand activities. Terrace also previously was the senior vice president of brand management at Beanstalk.

“Penske Media’s portfolio of iconic brands drives incredible loyalty and engagement with its audiences,” says Terrace. “I’m thrilled to have the opportunity to leverage the DNA of these brands and to extend them into new products and services that will drive new consumer touchpoints, experiences and meaningful new revenue streams for PMC.”

Terrace began her career working in various marketing roles at American Express, Unilever and Jupiter Research.