On-line information provider MAID has announced that it will be setting up an International Executive Division which will supervise and drive the Group’s global strategy and development. The new division will be headed by Dan Wagner, chief executive of MAID, and will oversee activity in North America, Europe and Asia-Pacific. Wagner said the move was “to take advantage of the enormous growth potential in our industry.”
The news coincides with the release of MAID’s half-year financial results. Turnover was up 74% on quarter 2 1995 to £5.1 million, though there was a pre-tax loss of £1.9m (compared to a profit of £134,000 last year) which reflects the expansion of the business. There were also subscriber gains of 1,200 – double the total subscriber gains for 1995 – and renewals remained at over 85%.
MAID: 0171 930 6900
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