IPC SouthBank’s managing director, Chris Boyd, has suddenly
resigned, citing personal reasons and the wish to pursue an alternative
His departure comes amid concerns that the SouthBank Group is not
performing well. The latest ABC figures for the 12 months to June reveal
that out of a total of 14 titles, 13 registered a decline in circulation
year on year.
Titles such as Options, Woman’s Journal, Family Circle and Our Baby all
suffered a fall in year-on-year circulation of more than 10 per
Period on period, however, there was some improvement for a number of
the titles, with nine magazines registering a circulation rise, although
five of those achieved growth of less than 1 per cent.
IPC is under pressure to perform after its pounds 860 million management
buyout from Reed Elsevier backed by the venture capitalist, Cinven.
Industry sources suggest Boyd’s departure could be the first of several
involving senior staff. Neither Boyd nor IPC’s chief executive, Mike
Matthew, were available for comment.
Colin Reeves-Smith, managing director of IPC Business Enterprises Group,
who was managing director of SouthBank Publishing for ten years before
Boyd, will caretake Boyd’s post until a replacement is found. He will
also carry out a strategic review of the magazine group, looking at
performance, titles, staff, overheads and budgets. It is likely that
someone from outside IPC will be appointed to take up the management
Julia Porter, the business enterprises director, will take on greater
responsibility within Business Enterprises while Reeves-Smith manages
the SouthBank Group.