Future Network PLC
19 March 2001
PRESS INFORMATION
19th March 2001
FUTURE NETWORK STRENGTHENS MANAGEMENT TEAM
The Future Network Plc, the international specialist magazine publisher, today
announces the strengthening of its board and management team, as follows.
* Colin Morrison, Future's Deputy Chief Executive, assumes the position
of Chief Operating Officer, with direct responsibility for Future's UK and
European businesses, for international licensing, and for strengthening Group
operating procedures. He will continue to report to Chief Executive Greg
Ingham;
* Non-executive Board Member Michael Penington is to become Interim
Finance Director, pending recruitment of a full-time replacement for Ian
Linkins who steps down in April to become Group Finance Manager;
* Roger Parry, a non-executive Director of Future since its flotation,
becomes Deputy Chairman, and takes over PLC and governance responsibilities of
the Board, freeing up Future's founder Chris Anderson to focus on group
strategy as non-executive Chairman.
Chris Anderson, Chairman of Future, commented: 'Future's clear goal for 2001
and 2002 is to restore the company to positive cashflow by the resolute focus
on our core business. Greg and Colin are the team to achieve this, and will
allow me to focus on the area where I can add most value: helping to figure
out low-cost ways to open up new profit streams for Future within our core
markets. With the exception of last year, Future has an exceptional track
record in this regard, and now that the bubble economy of 2000 is behind us, I
look forward to helping reinvigorate that process.
'I am also delighted that Roger and Michael have agreed to take on new
responsibilities for Future. Both have been extraordinarily valuable over the
past months as Board Directors, and these new roles are exactly what Future
now needs.
''Finally I would like to pay tribute to Ian Linkins who has decided to step
down from April. Ian has taken the lion's share of the pressure resulting
from Future's woes of 2000, and I fully understand his desire to move on to
another senior role within the company. Ian has worked tirelessly for Future
during the past decade, and played an absolutely essential role in helping the
company grow from tiny roots to its current public company, multi-country
status.'
Roger Parry, Deputy Chairman of Future, added: ' Future is a very young
company which has gone through substantial growing pains since it floated, at
the height on the internet boom, in June 1999. The slump in the very markets
in which Future had made its key investments has created problems, but I am
confident that the company has learned from these problems.'
For further information:
The Future Network plc Tel: 01225 442244
Greg Ingham, Chief Executive
Colin Morrison, Chief Operating Officer
Ian Linkins, Finance Director
James Longfield/Georgina Briscoe Tel: 020 7357 9477
Hogarth Partnership
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.