CEO at publishing firm to stand down

Bath publishing firm Future has announced that its chief executive Jon Steinberg is to stand down next year.

The listed firm said that Steinberg, who took up the role in April 2023, intends to relocate back to the US with his family.

News of his forthcoming departure saw the company share price drop by more than 10% last week.

A search for his successor is underway.

Richard Huntingford, chair, said: “I would like to thank Jon for the significant contribution he has made to the group. Whilst we are disappointed that he will be departing next year, we respect Jon’s decision to return to the US.

“The Growth Acceleration Strategy he has implemented is well underway and, as highlighted by the pre-close update announced in September, continues to drive good strategic and financial progress. We will continue to work closely with Jon over the course of his notice period as we look to appoint his successor.”

Steinberg said: “Future is a wonderful business driven forward by incredibly talented people who I love working with and it was a tough personal decision to step down from the board next year. It is a great privilege to lead the group and until I hand over to my successor, I remain focused on the delivery of our strategy which leverages Future’s inherent strengths, strong financial characteristics and unique proposition.”

Future will release its full-year results on December 5.