Boyd makes sudden departure from IPC Southbank

IPC SouthBank’s managing director, Chris Boyd, has suddenly resigned, citing personal reasons and the wish to pursue an alternative career.

IPC SouthBank’s managing director, Chris Boyd, has suddenly

resigned, citing personal reasons and the wish to pursue an alternative

career.



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

cent.



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

post.



Julia Porter, the business enterprises director, will take on greater

responsibility within Business Enterprises while Reeves-Smith manages

the SouthBank Group.



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