Matthew Retires As Chief Executive Of IPC Ahead Of Floatation

Mike Matthew, chief executive of IPC Magazines, has announced that he intends to retire from the position before the end of the year, ahead of the group’s plans for a Stock Market floatation. Matthew leaves the company in December after seven years as chief executive and just two years after he successfully headed the £860 million management/venture capitalist buyout of the group from owners Reed Elsevier (see IPC Magazines Gains Independence).
Matthew will be replaced on 1 December by Sly Bailey, currently managing director of of IPC tx, the group’s television titles division. Bailey also has overall responsibility for corporate advertisement sales. Matthew will remain on the Board as deputy chairman after his retirement as chief executive.
Commenting on the changeover, group chairman David Arculus said: “Mike’s decision to retire now will give his successor time to establish herself in the job before the group’s planned floatation. Mike has made an enormous contribution to IPC’s development in his seven years as chief executive, and I am delighted that he will continue to serve the group as deputy chairman. I am very pleased to announce Sly Bailey’s appointment as his successor. [She] has the breadth of experience to be a highly effective leader of the whole group.”
Following the buy-out from Reed Elsevier, Matthew also instigated a restructuring of the group’s publishing division, creating IPC tx, IPC Connect, IPC SouthBank Publishing Company, IPC Country & Leisure Media and IPC Music & Sport (see IPC Unveils New Publishing Group Identities). In the latest consumer magazines circulation, for the January-June 1999 period, IPC’s portfolio recorded a slight overall year on year increase of 0.7%. This is despite heavy losses at its male lifestyle flagship title, Loaded.
IPC Magazines Circulations | ||||
Title | Jan 98 – Jun 98 | Jan 99 – Jun 99 | Actual Change | % Change |
19 | 172,104 | 160,237 | -11,867 | -6.9 |
25 Beautiful Homes | n/a | 115,032 | n/a | n/a |
Amateur Gardening | 62,011 | 63,022 | 1,011 | 1.6 |
Amateur Photographer | 27,128 | 28,579 | 1,451 | 5.3 |
Anglers Mail | 42,001 | 42,173 | 172 | 0.4 |
Chat | 482,143 | 502,364 | 20,221 | 4.2 |
Country Homes & Interiors | 105,492 | 110,257 | 4,765 | 4.5 |
Country Life | 45,367 | 45,484 | 117 | 0.3 |
Essentials | 290,324 | 290,542 | 218 | 0.1 |
Expecting Our Baby | 45,867 | 36,721 | -9,146 | -19.9 |
Family Circle | 262,589 | 231,783 | -30,806 | -11.7 |
Golf Monthly | 72,139 | 73,082 | 943 | 1.3 |
Homes & Gardens | 173,546 | 168,732 | -4,814 | -2.8 |
Homes & Ideas | 218,619 | 162,349 | -56,270 | -25.7 |
Horse & Hound | 69,097 | 66,135 | -2,962 | -4.3 |
Ideal Home | 208,480 | 237,734 | 29,254 | 14.0 |
Living etc | n/a | 87,822 | n/a | n/a |
Loaded | 456,373 | 384,351 | -72,022 | -15.8 |
Marie Claire | 416,239 | 437,642 | 21,403 | 5.1 |
Melody Maker | 40,017 | 34,068 | -5,949 | -14.9 |
Mizz | 111,476 | 150,230 | 38,754 | 34.8 |
Muzik | 42,034 | 43,501 | 1,467 | 3.5 |
New Musical Express | 92,367 | 90,763 | -1,604 | -1.7 |
Now | 306,501 | 386,383 | 79,882 | 26.1 |
Practical Parenting | 78,818 | 81,215 | 2,397 | 3.0 |
Shoot | 80,727 | 56,624 | -24,103 | -29.9 |
TV & Satellite Week | 198,049 | 198,651 | 602 | 0.3 |
TV Times | 835,560 | 825,760 | -9,800 | -1.2 |
Uncut | 36,067 | 44,514 | 8,447 | 23.4 |
Whats On TV | 1,750,167 | 1,813,784 | 63,617 | 3.6 |
Woman | 692,491 | 686,169 | -6,322 | -0.9 |
Woman & Home | 302,430 | 293,847 | -8,583 | -2.8 |
Woman’s Journal | 128,656 | 103,209 | -25,447 | -19.8 |
Woman’s Own | 653,432 | 597,179 | -56,253 | -8.6 |
Woman’s Realm | 221,838 | 182,609 | -39,229 | -17.7 |
Woman’s Weekly | 609,557 | 567,091 | -42,466 | -7.0 |
World Soccer | 62,908 | 53,021 | -9,887 | -15.7 |
Your Garden | 78,375 | 84,733 | 6,358 | 8.1 |
Total | 9,470,989 | 9,537,392 | 66,403 | 0.7 |
IPC has also announced that Linda Lancaster-Gaye, managing director of women’s weeklies division IPC Connect, has been appointed to the IPC Group Board. Lancaster-Gaye has been at IPC since 1984 and has held the MD position at the women’s weeklies group since January last year.
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IPC Magazines: 0171 261 6575