Two Future Executives Resign

October 28, 2011 -

British magazine publisher Future PLC announced today that both its chief executive officer Stevie Spring and finance director John Bowman have resigned from the company. Future employs about 1,000 people in the United Kingdom and publishes several magazines including Fast Car, Metal Hammer, and Edge. In the U.S. Future is known as the publisher of Nintendo Power, Official Xbox Magazine, PC Gamer, PlayStation: The Official Magazine, Best Buy's @Gamer, and operates several large gaming sites.

The company claims that the two executives resigned to help cut costs, following a 10 percent staff cut this summer that saw 100 jobs eliminated. The cuts were mostly related to the print magazine business, so that the company could expand on its new digital offerings.

Spring was the highest paid executive at Future receiving about $1.05 million for the fiscal year ended September 2010. This figure included salary and bonuses that amounted to around $258,000. Mark Wood, who was hired last year to run Future's UK operation, was appointed group chief executive to replace Spring, and Graham Harding, finance director for Future's U.K. operation, was appointed group finance director.

Wood denied plans to sell off the U.S. businesses, but did say the overall plan is to bring both its UK and U.S. operations "closer together." Rumors have been circulating all year that Future planned to unload its various U.S. magazine operations.

The company will announce its fiscal results for the year on November 24, and said it expects a 6 percent drop in revenues.

Source: IndustryGamers

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ZippyDSMleePapa Midnight: Care to take a look at this and tell me what you think about it? http://www.amazon.com/Frisby-FS-5010BT-Surround-Speakers-Bluetooth/dp/B00EYX1N2S/03/26/2015 - 10:27pm
Matthew Wilson@AE I think he means both.03/26/2015 - 9:23pm
ZippyDSMleeuhg either a nap after being up 30 hours or working on my comp blah. Oh wow when did the the all shout box page show 3 times as many shouts 0-o03/26/2015 - 8:30pm
Andrew EisenMechaCrash - Sony in particular or Hollywood in general?03/26/2015 - 7:38pm
Matthew Wilson@mach no way in hell, so that is why I want them to stay away.03/26/2015 - 7:21pm
MechaCrash"Get the movie right" is preferable to "stay away," but do you really think they won't screw it up?03/26/2015 - 7:19pm
Craig R.And yes, 90's games. Damn near all of my fav computer & console games were from that decade03/26/2015 - 7:00pm
Craig R.I'd take the NCAA seriously if they'd bite instead of bark03/26/2015 - 6:59pm
Andrew EisenConster - Sure, give me a few minutes.03/26/2015 - 3:05pm
Consterhttp://sanfrancisco.cbslocal.com/2015/03/26/salesforce-ceo-says-company-is-cancelling-all-programs-in-indiana-over-lgbt-discrimination-fears/ http://edition.cnn.com/2015/03/25/politics/mike-pence-religious-freedom-bill-gay-rights/index.html03/26/2015 - 2:55pm
ConsterApparently Salesforce and the NCAA are also upset over SB 101. I know they're not video-games related, but maybe add a line to the article?03/26/2015 - 2:54pm
Andrew EisenThat said, I doubt that if the movie gets made, it will be similar to either version of the show. But, Star Wars movies will be out again and the designs are still pretty awesome so it's got a chance.03/26/2015 - 2:34pm
Andrew EisenPeople my age and older with disposable income and a fondness for nostalgia.03/26/2015 - 2:32pm
Matthew Wilson@AE I am kinda surprised sony would want to make a movie of something that is 30 years old. I woulder how many people remember robotech?03/26/2015 - 2:24pm
Andrew EisenProbably not but my wish is that Hollywood make good anime movies.03/26/2015 - 2:20pm
Matthew Wilsonhttp://variety.com/2015/film/news/robotech-movie-sony-tv-series-anime-1201460191/ am I the only one that wishes Hollywood would stay a million mile away from anime?03/26/2015 - 1:29pm
MaskedPixelantehttp://www.comicbookmovie.com/fansites/markcassidycbm/news/?a=117247 Because when I think "all new, all different", my mind jumps to a hero that's served on FOUR different Avengers teams.03/26/2015 - 11:31am
Matthew Wilsonnot shocked, lets see how gencon reacts.03/26/2015 - 11:01am
Andrew EisenAnd for those of you keeping track, Indiana's SB 101 was signed into law this morning by Gov. Pence.03/26/2015 - 10:58am
james_fudgeyeah!03/26/2015 - 9:17am
 

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