Future Publishing CEO Mark Wood has stepped down as CEO, handing the reigns to current CFO Zillah Byng-Maddick.
With shares having taken a nose dive, from trading at around 20p a year ago, to the present 7p per share, Wood has stepped down, taking on a non-executive directorship role on the plc board.
Zillah Byng-Maddick has formerly held CFO and interim CEO roles at Trader Media, the publisher of Auto Trader, among others.
Wood said: “Zillah has made a tremendous impact since she joined Future. She was brought in for her experience in both digital transformation and organisational structuring and has precisely the skills needed to lead the company through the next phase of its evolution.
“We have come a long way in the last three years, but recent trading results underline that there is still much to be done. I will still be involved in the business and will give Zillah all the support I can. But the change in role also allows me to follow up some interesting recent approaches.”
For a summary of the cycling magazine's recent ABC statistics, see here.