Reed Elsevier CEO Stepping Down

After less than a year in the role, Reed Elsevier CEO Ian Smith is stepping down, folio: reports.

The company, which is the parent company of Reed Business Information (Variety, Broadcasting & Cable, etc) called the departure a “mutual agreement.”

Smith will be replaced by Erik Engstrom, who was CEO of the Elsevier division.

Reed is currently trying to sell many of its U.S. magazines, including Broadcasting & Cable, Mutichannel News, Professional Builder, Publishers Weekly and Tradeshow Week.

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