The Economist Group CEO Helen Alexander is leaving the publisher after 23 years to become an adviser to private equity house Bain Capital. Her replacement, from July 15, will be Andrew Rashbass, a former MD of Economist.com who joined as CIO from DMGT’s Associated Newspapers in 1997, the same year Alexander became CEO, The Times said.
Online advertising grew 15 percent year-on-year in the six months to September 30 and now makes up 17 percent of all revenue at the group, half of which is owned by FT parent Pearson (NYSE: PSO). Economist.com traffic was 2.6 million users in September and online is one of three group priorities for the year. Articles older than 12 months are behind a premium pay wall.
Economist Ready To Try ‘Social Networking’ Again Earnings: Online Makes Up 17 Percent Of Economist’s Revenues