FUTURE, the UK publisher, has announced that its chief executive and finance director are to leave with immediate effect, months after it revealed that revenues for the six months ended 31 March dropped 4% year on year to £68.8m.
The company, which publishes computer games, cycling and photography magazines, said that outgoing chief executive Steve Spring and finance director John Bowman will be replaced by Mark Wood, the head of Future UK, and Graham Harding, the UK’s Finance Director respectively.
Pater Allen, chairman of Future, said the pair’s departure was the result of “eliminating an entire tier of corporate overhead”
Future’s share price has fallen by more than 60% since the year started to 10.38 pence on 26 October on the London Stock Exchange.
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