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:
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.”
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.
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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