The Monetary Instances Group introduced that, after nearly 20 years as FT group chief government, John Ridding is to step down from the function on June 30.
In a be aware to FT employees, Ridding stated: “I really feel privileged to have been CEO throughout an important interval of the FT’s historical past and to have labored with such sensible and dedicated colleagues on our transformation. As I step away, FT subscriptions and readership are at all-time highs, as are Group revenues. Roula (Khalaf) and her group are producing distinctive journalism.”
Naotoshi Okada, Nikkei chairman and group CEO, stated: “John Ridding stands out as an distinctive CEO in an business that has confronted fixed turbulence lately. Since Nikkei acquired the FT in 2015, we’ve labored intently with John and have come to belief his judgment, dedication and innate understanding of the FT model. He has stewarded the Group by way of a interval characterised by speedy worldwide progress, diversification and digital transformation and leaves the enterprise in sturdy well being.”
Okada additionally stated that Ridding would keep inside the Nikkei Group as particular adviser, reporting to him: “We need to exploit Ridding’s deep experience and expertise in main change, digitisation and growing worldwide partnerships. He may even take the title of Honorary FT Chairman, a non-executive function designed to help a easy transition and additional collaboration between Nikkei and the FT.”
When Ridding grew to become CEO in 2006, the FT was primarily a newspaper enterprise counting on print promoting and circulation gross sales. It later adopted a reader-revenue mannequin and now generates most of its annual income—over £500 million—from digital subscriptions. Different income sources embody promoting, occasions, analysis, circulation, and consultancy.
In his 35 years on the FT, Ridding has held a spread of editorial and government roles. Beginning as a junior sub-editor within the newsroom, he grew to become a overseas correspondent based mostly in Hong Kong, Paris and Seoul and often reported from China, Indonesia and Japan. He was managing editor, options editor, deputy editor and Asia editor earlier than transferring to the enterprise facet of the organisation. He managed the acquisition of the FT by Nikkei from Pearson in 2015 and serves as a particular government director of Nikkei. He additionally sits on Nikkei’s World Funding Committee.
Written with the View : afaqs