Publisher Reed Elsevier has announced that Ian Smith has resigned as Chief Executive Officer by mutual agreement and has stepped down from the Boards. Erik Engstrom, currently CEO of Elsevier, has been appointed Chief Executive Officer of Reed Elsevier with immediate effect.
Engstrom is an international executive with over 15 years management experience in the media sector in the US and Europe. He has been a director of Reed Elsevier Group plc and Reed Elsevier PLC since 2004 and a Member of the Executive Board of Reed Elsevier NV since 2005. Engstrom has been CEO of Elsevier since joining Reed Elsevier in 2004, and under his stewardship sales and profits have grown every year creating a business with turnover of £1.7 billion in 2008. Prior to joining Reed Elsevier, he worked from 2001 to 2004 at General Atlantic Partners, a private equity firm, where he was a general partner leading their media and consumer investment sector.
Reed Elsevier is a leading publisher and information provider targeting the science and medical, legal and risk management, and business to business sectors. The company provides high value and flexible information solutions to professional users, with increasing emphasis on internet delivery.
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