Last Friday was a landmark day in the history of the American Institute of Physics. February 1, 2013 marked the creation of AIP Publishing LLC, a wholly owned subsidiary of AIP dedicated to scholarly publishing in the physical sciences. AIP has evolved a great deal since it was formed by five of its Member Societies on the heels of the Great Depression. The societies created AIP in part to take advantage of economies of scale in scholarly publishing, an activity that has always been an important part of AIP's mission. Over time, in response to the needs of the scientific community, AIP's products and services have evolved and expanded.
The evolution began in 1948 with the launch of Physics Today magazine, an outreach publication for the broader physical sciences community, followed by the formation of the Niels Bohr Library and Archives in 1962. In the ensuing decades, AIP experienced a steady diversification in programs to encompass activities in science outreach, education and career development of interest to our Member Societies. Likewise, AIP's scholarly publishing activities have been evolving in response to market changes. While AIP's organization, business, products, programs, and services have been adapting to keep pace with the needs of our community and stakeholders, macro environment trends such as globalization, demands for increased public access to scholarly content, and competition from commercial publishers, AIP's governance structure had remained essentially unchanged until now.
The AIP Governing Board undertook a close examination of AIP's publishing business and determined that it required a dedicated Board with relevant expertise to guide its development. This more focused board will put AIP Publishing in a better position to fulfill AIP's publishing mission, stay financially healthy and thrive into the future. The subsidiary will also support AIP's mission in its numerous outreach activities to the physical sciences community such as science media and education. John Haynes begins his new role as CEO of AIP Publishing LLC with a strong leadership team in place, and we anticipate a bright future for AIP, our new subsidiary and our Member Societies.
This event is the culmination of extensive reflection, examination, planning and hard work from the members of AIP Governing Board and its Governance Task Force, which includes Lou Lanzerotti (chair of the Governing Board), Eva Adams (director of corporate strategy), and Ben Snavely (corporate secretary). I thank them for their dedication to the Institute and to its mission.