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Wednesday, 11th November 2009

Erik Engstrom Named New CEO of Reed Elsevier

From the Story:

Former Random House executive Erik Engstrom has been appointed CEO of Reed Elsevier, succeeding Ian Smith who had been in the position for about eight months. Engstrom had been head of Reed’s Elsevier scientific publishing operation. The departure of Smith was by “mutual agreement,” the company said. Reed chairman Anthony Habgood thanked Smith for his service “during unprecedented turbulent economic times.”

Included in the Reed Elsevier portfolio of properties are:

+ Publisher's Weekly (PW)
+ Library Journal (LJ)
+ School Library Journal (SLJ)

In an update on business for the first nine months of 2009, Reed said RBI “continues to face difficult trading conditions particularly in advertising markets.” The update added that the sale of controlled circulation magazines in the U.S. and certain other titles (including PW, LJ, SLJ) “is in progress to reposition the portfolio.”

Source: Publisher's Weekly

See Also: Reed Elsevier CEO Steps Down (via WSJ)

Ian Smith, chief executive of Reed Elsevier PLC, resigned unexpectedly Wednesday after only eight months in the job, but the Anglo-Dutch publishing group's chairman said the move doesn't herald a pending strategic shift.

See Also: Official News Release Naming Engstrom CEO

See Also: Interim Management Statement - Reed Elsevier provides an update on trading and outlook
A review of different Reed Elservier properties and services.

See Also: Publisher's Weekly, Library Journal and School Library Journal' For Sale (July 30, 2009) (via Publisher's Weekly)

Reed Business Information is putting Publishers Weekly and its affiliated publications, Library Journal and School Library Journal, up for sale. The sale of the group is part of RBI’s strategy to divest most of its trade magazines in the U.S.


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