Last checked at 22 Feb 2023 07:00
22 February 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF
ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO. 596/2014 ON MARKET
ABUSE ("UK MAR"), AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018
Future plc
Appointment of Jon Steinberg as Chief Executive Officer
The Board of Future plc ("Future" or "the Group"), the global platform for specialist media, is pleased to announce the appointment of Jon Steinberg as Chief Executive Officer following a thorough search process.
Jon, who will be joining the company on 3 April 2023, will succeed Zillah Byng-Thorne, who announced her intention to stand down last September. Zillah will step down from her current role effective 31 March 2023 and thereafter will remain available to support Jon over a two-month transition period to ensure a smooth handover of responsibilities.
Jon is an experienced media executive, with a strong track record of innovation, scaling media groups and creating value. Most recently, Jon was the President of Altice USA's News & Advertising Division, which encompasses News 12, i24NEWS, Cheddar News, and Altice USA's a4 Advertising unit. Jon joined Altice through the sale of Cheddar News, a digital-first innovative news company, which he founded in 2016.
Prior to Cheddar, he was the Chief Executive Officer of DailyMail.com North America, having joined from BuzzFeed where he was President & Chief Operating Officer. Jon's early career included working at Google, where he was a Strategic Partner Development Manager, as well as the consultancy Booz Allen Hamilton.
Jon is currently a Senior Advisor to The Raine Group, where he advises media portfolio companies on strategy and go-to-market execution, a role which he will step down from before he joins the Group. He is also a non-executive director of The City, a New York City non-profit focused on the coverage of local government.
Richard Huntingford, Chair, said: "I am delighted to announce the appointment of Jon following a comprehensive search process. Jon has highly valuable expertise and has developed a fantastic track record, combining entrepreneurialism with leadership at some of the very best digital and media organisations operating at scale. He is a charismatic leader with a deep understanding and passion for media, particularly how technology, creativity and innovation can be harnessed to accelerate growth and build significant value for stakeholders. As we look to further extend Future's leadership, particularly in the US, Jon is a natural fit.
"On behalf of the Board and all of Future I would like to thank Zillah for the exceptional role she has played for almost a decade. Through her leadership, Future has transformed beyond recognition, from a loss-making magazine publisher into a leading digital media platform of 250 brands reaching 1 in 3 adults online in the US and UK, and delivering market-leading returns for our investors in the process."
Jon Steinberg said: "I am delighted to be joining Future. It is a business that I've followed closely and long admired for the way it has redefined the media playbook, marrying the best of editorial and technology. I look forward to working with the Board and the leadership team to build on the success achieved under Zillah's tenure."
Zillah Byng-Thorne, outgoing CEO, said: "Leading Future has been a true privilege. It is a job and a company that I have loved, working alongside incredibly talented teams focused on staying true to the evolving needs and desires of the audiences we serve. I will continue to be a firm supporter of the business and am confident that Future, under Jon's leadership, will go from strength to strength."
There are no other details to be disclosed in accordance with paragraph 9.6.13 of the Listing Rules. The person responsible for releasing this announcement is Anne Steele, Company Secretary.
Enquiries
Future plc | +44 (0)1225 442244 |
Richard Huntingford, Chair Zillah Byng-Thorne, Chief Executive Officer Penny Ladkin-Brand, Chief Financial and Strategy Officer |
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Marion Le Bot, Head of Investor Relations | +44(0)7775 641509 |
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Media |
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Headland | +44 (0) 20 3805 4822 |
Stephen Malthouse, Rob Walker, Charlie Twigg | future@headlandconsultancy.com |
About Future
Future is a global platform business for specialist media with diversified revenue streams. Its content reaches 1 in 3 adults online in the UK and US.
The Media division is high-growth with complementary revenue streams including eCommerce for products and services, events, and digital advertising (including advertising within newsletters and video). It operates in a number of sectors including technology, games & entertainment, music, home & gardens, sports, TV & film, real life, knowledge, wealth & savings, women's lifestyle and B2B. Its brands include TechRadar, PC Gamer, Tom's Guide, Android Central, Truly, The Week, Kiplinger, GoCompare, Digital Camera World, Homebuilding & Renovating Show, GamesRadar+, The Photography Show, Top Ten Reviews, Marie Claire, Live Science, Guitar World, MusicRadar, Space.com, Who What Wear, What to Watch, Gardening Etc, Adventure and Tom's Hardware.
The Magazine division focuses on publishing specialist content, with a combined global circulation of over 4.5 million delivered through more than 106 magazines, and 743 bookazines published a year. The portfolio spans technology, knowledge, games & entertainment, sports, music, photography & design, homes & garden, country lifestyle, TV & film and B2B. Its titles include Country Life, Wallpaper*, Woman & Home, The Week, Classic Rock, Decanter, Guitar Player, FourFourTwo, Homebuilding & Renovating, Digital Camera, Guitarist, How It Works, Total Film, What Hi-Fi? and Music Week.