Chris Boyd, managing director of the SouthBank Publishing Group, has resigned from IPC. He is the latest to join the exodus of top level executives who have left since the 860m management buyout by Cinven in January this year.
His departure follows disappointing January to June Audit Bureau of Circulations figures for the Group, which includes flagship title Marie Claire. Out of the 14 magazines which recorded figures announced in August, only one title, Mizz, showed growth.
A spokeswoman for the company says: “The SouthBank ABC figures were disappointing and something had to be done.”
Boyd, who is currently away on holiday, is thought to be returning to study at university.
Other senior executives who have left the company since the buyout include former IPC editor-in-chief, Sally O’Sullivan, who quit to set up magazine company Cabal Communications; former circulation director David Greene, who left to join the Independent; and former publishing director Heather Love, who is now doing consultancy work for BBC Worldwide.
Colin Reeves-Smith, managing director, IPC Business Enterprises Group, will take over as acting managing director until a successor is named.