London, England – David Levin will step down as CEO of UBM plc by July 31, 2014, the company announced. Levin will remain at the head of the company while the UBM board of directors carries out a search for a new CEO and then transitions that individual into the job.
“David remains in charge and we are working closely together to ensure a good handover when the time comes,” said UBM Chairman Dame Helen Alexander.
No reason was given for Levin’s decision. Financial analysts in UBM’s home base said it could be a first step toward an acquisition of UBM by another media player or a potential spinoff of its PR Newswire division.
Levin joined UBM plc in 2005 and led the company on an aggressive worldwide expansion, which included the acquisition of U.S. trade show organizer Canon Communications. He also shifted the company from an emphasis on print business media to one driven by trade shows and other live events.
“During this time, UBM has completed more than 100 acquisitions and more than a dozen disposals,” Levin said, adding he felt it was time to look ahead to a new challenge.
“UBM’s two main businesses, Events and PRNewswire, offer significant opportunities for growth, both organically and by acquisition,” Levin added. UBM has 5,500 staff in more than 30 countries and is one of the Top 3 trade show organizers worldwide.
Financial results for UBM’s Events division in the first half of 2013 showed a (1.1)% decline in event revenues compared to the first half of 2012. Adjusted operating profit slid (14.4)%. Much of the bad news came from shows held in the First Quarter of the year. The Second Quarter produced growth of 6.5% in trade show revenue.
UBM said advance exhibit sales for its key events in China in the second half were brisk and projected revenue growth of 3% to 5% for the Events division over the entire year.
Levin was selected as one of Trade Show Executive’s Leaders & Legends in September 2011 and was the focus of a cover story and Power Lunch at the Gold 100 Awards & Summit. Go to https://tradeshowexecutive.com/RecentIssues.asp
Reach David Levin at +44 20 79215000 or firstname.lastname@example.org