Agency: Fallon London
By Anne Cassidy, campaignlive.co.uk, Thursday, 04 June 2009 04:45PM
The closure affects 13 members of staff at the title, though some of these are expected to take up other roles within the group.
The move follows the closure of CFO Asia and CFO China in February. It does not affect CFO magazine in the US.
CFO Europe, a controlled-circulation title, was first launched in May 1998. The title’s recently published May edition is the final issue, but its online format will continue.
Susan Clark, the managing director for The Economist Group, Continental Europe, Middle East and Africa, said the title had been operating at a loss.
Clark said: "Despite the extraordinary efforts of a highly committed team, structural changes in the business-to-business advertising market have made achieving acceptable profit levels very difficult for CFO Europe.
"The business is operating at a loss, and the continuing economic deterioration makes the outlook even more challenging. The Economist, EuroFinance, Economist Intelligence Unit and CFO in America will look after the needs of clients in this sector in the future. We will work with our clients to deliver all projects currently underway in the CFO conference and research businesses in Europe."
This article was first published on campaignlive.co.uk