Future PLC CEO Jon Steinberg to Exit, Plans US Move After Less Than Two Years

Future PLC announced that CEO Jon Steinberg will resign next year to relocate to the US. Steinberg, who joined in April 2023, will serve a twelve-month notice period. Future will now search for a successor. The announcement follows the recent appointment of Sharjeel Suleman as CFO. Steinberg's departure comes after a leadership shift, with former CEO Zillah Byng-Thorne moving to M&C Saatchi PLC. Despite the loss, Future's Chair Richard Huntingford acknowledged Steinberg's efforts in implementing a Growth Acceleration Strategy, noting progress in the company's financial performance.

Future PLC, the global specialist media platform, announced on 22nd February 2023 that its CEO, Jon Steinberg, would be resigning in the coming year to relocate to the US [1]. Steinberg, who joined the company in April 2023, will serve a twelve-month notice period before departing. The company has initiated a search for his successor.

Steinberg's departure follows a series of leadership changes at Future. Previously, Zillah Byng-Thorne, who had served as CEO since 2018, moved to M&C Saatchi PLC [1]. Byng-Thorne announced her intention to step down last September, and Steinberg was appointed to succeed her after an extensive search process [1].

Steinberg brings a wealth of experience to the role, having held positions at various leading media organizations. Most recently, he served as President of Altice USA's News & Advertising Division, overseeing News 12, i24NEWS, Cheddar News, and Altice USA's a4 Advertising unit [1]. Prior to joining Altice, Steinberg was the CEO of DailyMail.com North America, having previously served as President & Chief Operating Officer at BuzzFeed [1]. Steinberg's early career included stints at Google and the consultancy Booz Allen Hamilton [1].

Richard Huntingford, Chair of Future, praised Steinberg's contributions to the company, noting that he had implemented a Growth Acceleration Strategy that had led to progress in the company's financial performance [1]. Despite Steinberg's departure, Huntingford expressed confidence in the company's future, stating, "We are confident that the business will continue to thrive under new leadership, and we are committed to ensuring a smooth transition" [1].

Sources:
[1] Future plc. (2023, February 22). THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO. 596/2014 ON MARKET ABUSE ("UK MAR"), AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. Retrieved February 24, 2023, from https://markets.ft.com/data/announce/detail?dockey=1323-15846556-28VRSS4DGG3J2DLFDO70MI8VQM