Appointment of Executive Director - Replacement
Summary by AI BETAClose X
In respect of the earlier announcement RNS No 4759A, the Company wishes to confirm its adherence to Listing Rule 6.4.10 by stating that there is no related disclosure required in respect of Jenny Ridout's appointment. All other details remain unchanged.
BLOOMSBURY PUBLISHING PLC
("Bloomsbury" or "the Company")
Bloomsbury strengthens Board with appointment of Jenny Ridout and streamlines structure
Bloomsbury is streamlining its operating structure and strengthening its Board for the next stage of growth. Jenny Ridout, currently Managing Director of the Academic & Professional Division, has been appointed to the Bloomsbury Board of Directors.
Bloomsbury Chairman, John Bason, said, "Jenny Ridout has been appointed as an Executive Director on the Board of Directors of Bloomsbury. This follows our long established practice of having the leader of our academic publishing on the board. Jenny has also been our leader in Artificial Intelligence and was instrumental in both the AI training deal we announced in July and the partnership with Google we announced in December. She recently studied for a Post Graduate Diploma in Artificial Intelligence for Business from the Saїd Business School in Oxford. The board welcomes her voice for the future."
Bloomsbury is also streamlining its operating structure, while retaining the current financial reporting. The company has operated a matrix structure with three major editorial divisions serviced by a global sales, marketing and publicity division. The central matrix structure has served Bloomsbury well over a period of considerable growth. To take this growth to the next stage, it has been decided to restructure to three vertical business units, with each business unit operating with its own editorial, sales, marketing and publicity, rights and audio functions reporting directly into the managing director of each. The new structure positions the company for greater agility, clearer accountability and continued expansion:
· Bloomsbury Global Academic & Professional led by Jenny Ridout;
· Bloomsbury USA led by Sabrina McCarthy, who continues to lead US Consumer and now also assumes responsibility for US A&P sales and marketing, rights and audio activity; and
· Bloomsbury Consumer UK led by Kathleen Farrar, who becomes Managing Director of Consumer UK. Ian Hudson is retiring from his full time role and will remain with the company as a consultant to contribute to longer term strategic planning.
Bloomsbury has consolidated central functions under Chief Finance & Operations Officer, Keith Underwood. These responsibilities will include Finance, Investor Relations, Commercial & Metadata, Operations, Royalties, Technology, Website and a central Project/Change Management office.
Nigel Newton, Chief Executive, said, "The new organisational structure creates a clearer, more agile framework that will enable us to deliver the next phase of Bloomsbury's growth. By aligning our business units more closely with our key markets, we can respond to changing tastes and customer preferences, strengthening our international and digital capabilities, and leverage new technologies. We are positioning the company to align with our ambitions, to take best advantage of the opportunities ahead and to continue to create long term success."
The Company is making this announcement pursuant to UK Listing Rule 6.4.6R with no further disclosure necessary under UK Listing Rule 6.4.8R(2) to (6).
For further information, please contact:
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Bloomsbury Publishing Plc |
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Tamsin Garrity, Group Investor Relations Director |
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Hudson Sandler |
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Dan de Belder / Hattie Dreyfus / Emily Brooker |
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