Mike Matthew, IPC’s chief executive, has streamlined top management
at the company following this week’s pounds 860 million management
buyout from Reed Elsevier.
Matthew, who remains in charge after the buyout, backed by the venture
capitalist, Cinven, wants to create a more reactive organisation.
Nigel Davidson, managing director of the women’s weeklies group who
resigned in July and was to serve a 12-month notice, will go on
gardening leave and be replaced by Linda Lancaster-Gaye, who was
managing director of IPC’s specialist group.
The specialist group has been pared down to two units from three, with
Andy McDuff, former publishing director of IPC’s Music and Sport Group,
promoted to managing director, and Sylvia Auton, publishing director of
IPC science and special interest titles, becoming managing director of a
new Country and Leisure Group. Sandy Whetton, publishing director for
IPC’s leisure titles, leaves to take up a senior position with Reed
Matthew added: ’We will continue to launch new titles. We will do
tactical acquisitions, which we couldn’t do as part of Reed
Of the acquisition, Matthew said: ’It gives us the independence we
wanted and the financial clout we needed.’
Although media agencies were relieved that IPC had not been bought by an
existing consumer publisher, there was concern about Cinven’s
One media buyer said: ’Venture capital companies have a reputation for