Reader’s Digest creates new management team
Former marketing director of Bank of Scotland David Titmuss has been appointed chief executive of Reader’s Digest, following a troubling year for the 72-year-old magazine.
In April, Reader’s Digest UK was bought by private equity group Better Capital for £13m after the company went into administration due to its pension debt.
A new parent company, Vivat, was created to publish the title.
Titmuss, former managing director of The Mortgage Lender, will head a restructured management team.
Carleen Brennan joins from Arcadia as head of digital services and James Mallinson, former communications director of UTV, joins as publishing director.
The company has also invested £100,000 in an audience research survey.
The study will look into the views of 700 45-60 year olds through a series of focus groups and in-depth interviews.
Since April’s buyout, £5m has been invested in the company’s restructure and brand.
Titmuss says: “The future of Reader’s Digest is now secure. We are fully financially stable and are geared for growth for the first time in many years.”
“I am lucky to have an extremely talented and highly experienced group of people around me, all of whom are eager to ensure that the company continues to go from strength to strength,” he adds.
Reader’s Digest has a subscriber base of 403,000 according to June’s ABCs, making it the fourth biggest selling monthly magazine in the UK.
