The Economist chief executive Chris Stibbs steps down after flurry of senior departures
The Economist’s chief executive is stepping down after more than five years in the job, the company confirmed today, following a number of senior departures this year.
Chris Stibbs was appointed chief executive of the weekly news magazine in 2013 and has held leadership positions in the company since 2005.
A spokesperson for the Economist said: “Mr Stibbs is credited with successfully steering the Economist group through exceptionally turbulent times for the publishing industry.
“Under his leadership he has transformed the business from advertising-first to one in which revenue from subscriptions is the largest contributor to the group’s profits.”
Stibbs will stay on as chief executive until a successor is named.
He is the latest in a series of high-profile departures from the Economist. Chief technology officer Michael Brincat and chief financial officer Toby Burton have both stepped down in recent weeks.
The company’s president, Paul Rossi, and chairman Rupert Pennant-Rea also left earlier this year.
In April the magazine announced it had combined its sales and circulation teams, with the new division led by chief operating officer Michael Brunt.
The company’s interim results showed a two per cent rise in revenue for the six months to the end of September compared to the same period last year.