unicornnews: Heseltine steps down at Haymarket

Michael Heseltine has announced he will stand down as the Executive Chairman of the Haymarket Media Group, the publishing company who, among other things, publish PR Week and a number of advertising and marketing industry trade magazines. The former Deputy Prime Minister has led Haymarket since its creation in 1957. He will continue to act as Chairman for the company, but his son Rupert will take over the running of the firm on a day-to-day basis from the New Year.

The change in management follows a difficult year for the wider publishing industry, and a resulting restructure at Haymarket, particularly within its marketing industry titles, where Media Week will become an online only operation. Commenting on changes in the media industry, and how he planned to respond to them, Rupert Heseltine told the Telegraph: “The power of the internet is ever growing so we have to find new revenue streams, new business models. We have an advantage with incredibly powerful brands. That strength will be the key to our success but what we will need to do is to move to different sorts of products”.

Posted Friday December 11 2009 by Chris Cooke

Related categories: Print Media