Morris Tabaksblat, non-executive chairman of publishing group Reed Elsevier, has announced his retirement from the firm, and the instalment, subject to his appointment to the board, of Jan Hommen as his successor.
Tabaksblat, who has been chairman since 1999, is reducing his business commitments for personal reasons and will step down from the role following the Reed Elsevier PLC and Reed Elsevier NV Annual General Meetings in April 2005.
Commenting on the retirement, Sir Crispin Davis, Reed’s chief executive officer said: “I am extremely grateful for the guidance Morris has provided to Reed Elsevier and to me personally. He has been an outstanding chairman for over six years and has guided the boards and management through a period of considerable change, first in helping to stabilise the business and then leading a period of strong recovery.”
Hommen will be proposed for appointment as a non-executive director of Reed Elsevier PLC and a member of the supervisory board of Reed Elsevier NV at the Annual General Meeting in April 2005. He is presently the vice chairman of the board of management and chief financial officer and executive vice resident of Royal Philips Electronics.
Tabaksblat said: “Jan Hommen brings a wealth of experience to this senior role. Having operated as a senior business executive in international roles for 15 years, he is well suited to be chairman of Reed Elsevier. I am pleased to hand over to such a capable person.”
Earlier this month Reed Elsevier revealed a 1.7% increase in full-year profits, with adjusted pre-tax profits of £1,027 million, up from £1,010 million in 2003 (see Reed Elsevier Reveals 1.7% Increase In 2004 Profits).
According to the Group’s 2004 preliminary results, 2004 revenues were up 5%, with adjusted pre-tax profits up 8% and adjusted earnings per share up 8%, at constant exchange rates.
Related Links
