11.11.2009
The Chief Executive of the Anglo-Dutch publisher Reed Elsevier Ian Smith has stepped down from the role after just eight months at the helm.
Making the announcement today, the company said Smith had resigned as Chief Executive “by mutual agreement”.
Erik Engstrom, who is currently CEO of Elsevier, has been appointed Chief Executive Officer of Reed Elsevier with immediate effect.
“Ian has had the difficult task of leading Reed Elsevier during unprecedentedly turbulent economic times. The boards and I would like to thank him for his contribution in this respect and wish him well for the future,” said Chairman of the board, Anthony Habgood.
“Erik is a proven international executive with over 15 years management experience in the media sector in the US and Europe including five highly successful years developing our worldwide Elsevier business as its CEO. He is now well suited to lead Reed Elsevier, to create value for our shareholders and to deliver growth as economic conditions improve,” Habgood added.
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