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Informa Snaps Up St Ives CEO As It Sets Out New Operating Model(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - Informa PLC said Thursday that it has hired St Ives PLC Chief Executive Patrick Martell to head up its new business intelligence division, as it announced changes to its operating model and executive team following a strategic review. The business media and events company said that following a strategic review earlier in the year it was making changes to ensure it can deliver on its future growth potential. From the start of 2015, it will split its operations into four divisions; retaining its academic publishing division and consolidating its independent businesses into a business intelligence division, a global exhibitions division, and a knowledge and networking division. Aside from Martell, it has appointed Will Morris to head up global exhibitions, and Andrew Mullins, previously with Evening Standard Ltd and Independent Print Ltd, to head up knowledge and networking. The new operating model is designed to reduce the complexity of the company's existing business structures and reporting lines, it said. Additionally, current Deputy Finance Director Gareth Wright will be promoted to Finance Director, effective immediately. Informa also said it is trading in line with expectations, and it will announce its strategic growth plan for 2015 to 2018 in the second half of the year. "Today's changes seek to increase operational, customer and market focus at Informa," said Chief Executive Stephen Carter in a statement. "We are repositioning the group to deliver growth and scale in each of our markets." Martell will step down from his position at St Ives at the end of July, although he will remain on the company's board until its annual general meeting in November, St Ives said. Martell will be succeeded by Matt Armitage, who is presently chief financial officer and managing director of marketing services at St Ives, from the beginning of August. Deputy Finance Director Brad Gray will succeed Armitage, St Ives said. Shares in St Ives were trading up 0.5% at 219.00 pence Thursday morning, and shares in Informa were also up 0.5% at 473 pence each. Copyright 2014 Alliance News Limited. All Rights Reserved. |