REED INTERNATIONAL PLC/ELSEVIER NV
20 July 1999
Issued on behalf of Reed International P.L.C. and Elsevier NV
9/99 20 July 1999
Announcement of Mr Crispin Davis as Chief Executive of Reed Elsevier
Reed Elsevier plc today announced the appointment of Mr Crispin Davis as its
Chief Executive Officer with effect from 1 September. He is also appointed
Chief Executive Officer of Reed International PLC and Chairman-designate of
the Executive Board of Elsevier NV from the same date.
Mr Davis, aged 50, joins Reed Elsevier from Aegis Group plc, where he has been
Chief Executive Officer since 1994. Prior to joining Aegis, he was Group
Managing Director of United Distillers and a main board director of Guinness
PLC. His earlier career covered 20 years at Procter & Gamble, including
senior management positions in the UK, Germany and the USA.
Morris Tabaksblat, Chairman of Reed Elsevier plc, said:
'I am delighted Crispin is joining us. He has an outstanding track record of
building businesses. His proven leadership and international marketing skills
ideally suit him for the position. His appointment as Chief Executive cements
the simplified management structure which we have put in place to take the
company forward.'
Crispin Davis, said:
'Reed Elsevier is a tremendous business. Despite some recent difficulties,
it has a portfolio of excellent brands with strong market positions. I very
much look forward to working with my new colleagues at Reed Elsevier to
develop and implement strategies to drive future growth.'
Mr Davis will succeed co-Chief Executives Herman Bruggink and Nigel Stapleton
who had agreed to stay with Reed Elsevier in this capacity until the
transition to a unitary management structure had been completed. Both will
now be leaving later in September. The Board wishes to thank them both for
their important contributions to the development of the business over many
years.
Enquiries:
London Amsterdam New York
Susanna Smart Erik Ekker Paul Richardson
+ 44 171 227 5670 + 31 20 515 9257 + 1 212 448 2399
Notes to Editors
Crispin Davis Career Background
Crispin Davis has been Chief Executive of Aegis Group plc since joining the
company in 1994. Under his leadership the market capitalisation has grown
from £180 million to approximately £1.5 billion. Aegis provides international
media strategy, planning, research and buying services. It employs 3,500
people in over 30 countries. When Mr Davis joined the company it was in
considerable difficulty and he was appointed to implement a restructuring
programme and restore the company to growth.
His strategy included the recruitment of a new management team, a programme to
cut costs and a new growth strategy that has achieved consistent profit
increases. The long-term results of Mr Davis's leadership have seen Aegis
extend its products and services into higher value added activities and new
markets. The portfolio of major international clients was expanded to include
Coca Cola, Kraft, Disney, Procter & Gamble, Volkswagen and Philips. The
company was also repositioned from a European to a global business, acquiring
and developing businesses in the USA and Asia Pacific.
Prior to joining Aegis, Mr Davis was at Guinness PLC. From 1990 - 1992 he was
Regional Managing Director - Europe and then, from 1992 - 1993, Group Managing
Director for United Distillers and a main Board Member of Guinness. United
Distillers accounted for 75% of Guinness's profit, with a turnover in 1993 of
£2.5 billion and profits of over £700m, operating in 42 countries.
The first 20 years of Mr Davis's career were spent at Procter & Gamble where
his marketing and general management roles included UK Marketing Director,
Managing Director in Germany and Vice President in the USA responsible for the
company's North American Food business.
Mr Davis, a British national, is married with 3 children.
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