| Emap's CEO resigns |
| Written by Business Weekly | |
| Thursday, 17 May 2007 | |
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Peterborough-based media group Emap has announced that its chief executive Tom Maloney has resigned after 26 years with the firm, to be replaced by non-executive chairman Alun Cathcart until a replacement is found.
The home of magazines FHM and Closer, and radio stations Kiss and Magic, which has seen tough trading conditions of late due to the migration of advertising online, said that Cathcart will assume the role interim executive chairman immediately until a replacement is found, a search which Emap said is underway. “Tom has made a significant contribution to the Company's development and leaves Emap positioned for growth in the new digital era,” Cathcart said in a statement. Shares in Emap have seen a six and a half per cent gain, growing 54p to 891.5p. |
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