UBM Chief Executive To Step Down Next Year
United Business Media has announced that Clive Hollick, chief executive of the media giant, is to leave the company in May 2005.
The move will see Hollick step down from his position to pursue other interests as he enters his ninth year as chief executive. In a brief statement issued this morning the CEO said: “I plan to leave United in May 2005 when I will be 60. I have had the privilege of working for a great company with an outstanding management team. I look forward to moving on to new opportunities.”
A replacement chief executive will be chosen by United Business Media before the end of the year, and the company is understood to have a shortlist of candidates, both internal and external, already in place.
Earlier this year Hollick announced an outstanding performance for United, with operating profit rising by nearly 52% following a significant turnaround by the firm’s technology and health care division, CMP Media (see United Business Media Sees Operating Profit Jump By 52%).
Profits at United could also receive a boost this year, as ITV is understood to be eager for the firm to offload its share of news giant, ITN. United currently owns 60% of ITN in collaboration with Reuters and the Daily Mail & General Trust. However, speaking at this year’s Edinburgh International Television Festival, ITV’s chief executive Charles Allen confirmed that gaining 100% of the news operation was very much on his agenda (see ITV Reveals Plans To Launch Range Of New Channels).
UBM: 020 7921 5000: www.unitedbusinessmedia.com
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