Management Changes At EMAP Petersen

EMAP has promoted Tom Moloney to chief executive of the media group’s US magazine publishing division, EMAP Petersen. Moloney, previously chief operating officer, takes charge of the company after a period of poorer than expected ad revenues which have caused EMAP’s stock price to drop dramatically in recent weeks (see Sharewatch).

Despite this EMAP describes Moloney’s appointment as a “logical step which will further strengthen the business”. Moloney replaces Jim Dunning who has headed EMAP Petersen since it was created in December 1998 through the £720 million takeover by EMAP of the Petersen Companies (see EMAP Makes £720m US Move). Kevin Hand, EMAP’s group chief executive, will chair the Board of EMAP Petersen.

Commenting on the management changes, Hand says: “Tom’s move to chief executive of Petersen is a natural progression. He has a great deal of experience not only of EMAP but also the consumer publishing industry as a whole and, over the past seven months, has had an excellent introduction to the US media market. He will now assume responsibility for the strategic direction of EMAP Petersen, with continuing help and advice from Jim.”

Dunning is expected to maintain a consultant’s role with the group for the time being, although he is considering other media investments opportunities.

EMAP: 0171 396 2300