|The Economist Group Announces Closure of CFO Europe
|May 2009 issue of CFO Europe will be the last
|June 05, 2009|
FOR IMMEDIATE RELEASE: Friday, June 5, 2009
CONTACT: Charlotte Smith
Brand Communications Manager, The Economist Group, CEMEA
+44 (0)20 7576 1075
LONDON--The Economist Group has made the decision to close its CFO business in Europe. As a result, the recently published May edition of CFO Europe is the final one.
Susan Clark, Managing Director for The Economist Group, Continental Europe, Middle East and Africa, said:
“Despite the extraordinary efforts of a highly committed team, structural changes in the business-to-business advertising market have made achieving acceptable profit levels very difficult for CFO Europe. The business is operating at a loss, and the continuing economic deterioration makes the outlook even more challenging. The Economist, EuroFinance, Economist Intelligence Unit and CFO in America will look after the needs of clients in this sector in the future. We will work with our clients to deliver all projects currently underway in the CFO conference and research businesses in Europe."
This decision in Europe follows the closure of CFO Asia and CFO China in February 2009, but does not affect CFO magazine in America.
About CFO Publishing: CFO Magazine and CFO.com are owned by CFO Publishing, an Economist Group business. With a rate base of 450,050, CFO is the leading business publication for C-level and senior financial executives. For more information, visit www.cfo.com.