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Ingham quits Future - BikeBiz

Ingham quits Future

Greg Ingham has this morning stepped down as chief executive of magazine giant Future, the Bath and London publishing house that produces a broad range of consumer mags including titles such as Cycling Plus and MBUK.
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Ingham leaves after serving in a senior role for just under 18 years and after a tough recent period of trading for the company.

Hired by founder Chris Anderson in 1988, when the company had only five magazines and a £3m turnover, Future currently has over 150 magazines in its portfolio and a £200m turnover.

Ingham has resigned with immediate effect from his role as CEO and director. He will be succeeded by Ms Stevie Spring from July 3rd but he will retain a role as consultant. Ms Spring was CEO of the outdoor media company Clear Channel for six years.

"I wish now to do something different and to broaden my experiences. I am sure this is the right decision, both for me and the business," said Ingham.

Future has today also announced its Interim Results for the six months ended March 31st 2006.

They show a reported loss before tax of £12.1m compared to a profit of £11.1m in the same period last year.

The company has also stated its intention to cut back on its previous policy of rapid expansion and focus on organic growth.

Text: Stuart Dinsey

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