Simon & Schuster's Richter Exits Children's Group

Rick Richter, president of Simon & Schuster's Children's Publishing has resigned from the company.

Simon & Schuster chief executive officer Carolyn Reidy is conducting the search for his replacement.

Richter was appointed president of the division in 2003 and has worked for Simon & Schuster since 1996. In his role as president for the children's division, he oversaw all editorial, marketing and licensing initiatives. During his tenure, Richter launched Simon Spotlight, which publishes tie-in titles from properties such as "Rugrats," "Blue's Clues," "SpongeBob SquarePants," "Bob the Builder" and "Dora the Explorer."

Senior vice president and publisher of the children's group Rubin Pfeffer is also leaving. His position will not be replaced.