In March 2001, publishing executive Ann Godoff—then in her third year as president, publisher, and editor-in-chief of Random House Trade Publishing Group (RHTPG)—was the subject of a gushing profile in New York Magazine. Laced with tributes from authors and peers (“She’s the real deal,” rhapsodized one Random House colleague), the article certified Godoff’s iconic status as an industry taste maker.

Less than two years later, those glowing quotes gave way to expressions of shock and surprise when Peter Olson, CEO of Random House, summarily fired Godoff. Upon hearing the news, one astonished editor could only utter, “Holy shit! Holy shit!” Olson’s reason for the termination was financial. As his announcement explained, Godoff’s unit was “the only Random House Inc. division to consistently fall short of their annual profitability targets.”

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