John Ridding is stepping down as chief
executive officer of The Financial Times Group on June 30 after a tenure of almost 20 years. He will move to a new role as special adviser to owner Nikkei.
The publisher
is in the financial stages of recruiting a successor to Ridding, and will make an announcement in the near future.
Ridding has served at FT in a variety of roles
for 35 years, starting in editorial before moving on to the business side.
“John stands out as an exceptional CEO in an industry that has faced
constant turbulence in recent years,” says Naotoshi Okada, chairman of Nikkei and group CEO. “Since Nikkei acquired the FT in 2015, we have worked closely with John and have come to trust
his judgment, commitment and innate understanding of the FT brand.”
advertisement
advertisement
During Ridding’s years as CEO, the FT has moved from being a traditional newspaper
business supported by print advertising and circulation sales to a diverse digital publishing group with a reader-revenue model.
Two thirds of its annual revenue,
which tops half-a-billion pounds, comes from digital subscriptions. The company also derives income from advertising, events, circulation and consulting.
“As I step away, FT subscriptions and readership are at all-time highs, as are Group revenues,” Ridding says in a note to the staff.
He adds
that Editor Roula Khalaf and her team “are producing exceptional journalism.”