Emap Chief Executive Leaves
Emap chief executive Tom Maloney has quit the group with immediate effect. Alun Cathcart, non-executive chairman, will become interim executive chairman carrying out the chief executive role until a permanent appointment is made.
“Tom has made a significant contribution to the Company’s development and leaves Emap positioned for growth in the new digital era. We wish him well for the future. The board has a clear strategy which we will vigorously execute to deliver growth and value for our shareholders.”
Moloney added: “Emap is a company with many talented people, the business is moving steadily into digital and I am confident that it has a very bright future.”
Following the announcement, shares in the group rose by more than 4% to 874p in early trading, with rumours circulating that Maloney’s departure could trigger a bid approach.
