FT.com promotes Grimshaw to managing director

The Financial Times has promoted global online advertising director Rob Grimshaw to the role of FT.com managing director. He will replace Ien Cheng, who will leave the company to work for search giant Google.

Grimshaw will be the board representative for FT.com and will be responsible for the commercial performance and overall strategy of the online business. He will replace Cheng from June 1 but take the new title of managing director, rather than publisher and managing editor.

Part of the changes means while Grimshaw will be working closely with James Montgomery, FT.com editor, the latter will take the on lead role in the design of the site and its editorial content.

John Ridding, chief executive of the Financial Times says: “We have gained good momentum, with revenues rising by 40% over the past year, and traffic increasing by more than 80%. Our new access model has proved a successful innovation, delivering more than 400,000 registrants.

As a member of the FT.com executive management team Grimshaw has been involved in the development of the new access model and planned site enhancements. He was also part of the team that developed the strategy behind the Financial Times’ multi-channel business and managing the transition of readers and advertisers online.