A little over half a year since taking on the role of managing director of Future UK, Nial Ferguson has changed roles to head up the company’s content and marketing division as the publisher announces a wider management restructure.
The news comes as Future undergoes a series of changes after hitting financial difficulties. Following a pre-tax loss of £30.6 million for the half-year ended 31 March, the company announced that it would sell its sports and craft portfolio to Immediate Media in an effort to simplify its business and focus on consumer technology markets.
The sale, which was completed last month, resulted in approximately 170 UK and 40 US job losses.
Similarly, last week Future announced the off-loading of its auto titles and Triathlon Plus to Kelsey Publishing Limited for £2.1 million, which the company’s chief executive, Zillah Byng-Maddick, said was another step in Future’s strategy to “focus the business on core vertical markets.”
However, despite the difficulties, the publisher reported that digital and diversified revenues were up 9% to £16.8 million in its half-year results.
Ferguson joined Future in 2008 as group publisher and has since held a number of roles within the company. As managing director, he was responsible for the technology, film, games, music, sports and auto divisions in the UK – the final two of which have now been sold off completely.
In a statement, Future also announced new senior changes and appointments including: Jeff Turner as commercial director for advertising; Michael Venus as HR and communications director; Paul Layte as commercial director for consumer revenues (as of May); Emma Harvey as product and technology director (as of June). Charlie Speight will continue as senior vice president of Future US.
Tesco Extra UK’s current financial director, Richard Haley, is set to become Future’s chief financial officer in October.
Newsline understands that the publisher’s commercial finance director, Richard Spilsbury, will be leaving the company in August.
Future, which is perhaps best known for titles including T3, Total Film and Xbox: The Official Magazine, last year sold more than 14 million magazines. Online, there are currently almost 50 million monthly global unique users to Future websites.
Commenting on the restructure, Byng-Maddick, said: “I am delighted to be working with such a strong team with a wealth of media, retail, and technology experience; this is the right team for the next stage of the Future journey and I am looking forward to working together with them.”
