Tim Pinnegar has joined The Economist Group as Managing Director, Asia Pacific. The appointment was made by the Group’s new CEO Andrew Rashbass, who took charge on July 16, the day after the annual general meeting at which Helen Alexander, outgoing CEO, announced another year of strong growth at The Economist Group.
Advertising revenue for The Economist in Asia is up 21 per cent as compared to last year, revenue for the CFO business is up 8 per cent, while sales revenue for the Economist Intelligence Unit is up 30 per cent. Circulation of The Economist in the January-June 2008 audit period is expected to be over 130,000 copies in Asia.
In Asia, Pinnegar will be managing all business units of the Group in the region. The Economist Intelligence Unit (EIU) will be run by Henry Luk as Regional Director, EIU and Group Development Director. Michael Brunt will take on the responsibility for circulation marketing for CFO in addition to his current role as Circulation and Marketing Director of The Economist. Huw Harries will become Publisher of CFO, whilst maintaining his Regional Sales Director role.
Rashbass said, “We have a strong team in place with an excellent record within the company. We look forward to building on the excellent results of last year and to delivering growth by continuing to develop intelligent media brands for the high end audience across the world.”
On his new role, Pinnegar said, “I am delighted to take on the role of Managing Director, Asia Pacific. The new structure in Asia means we now have greater autonomy to run our businesses from Asia .This will enable us to serve our customers better and quicker and more effectively use our resources. My aim is to double the profit Asia delivers over the next three years, and so continue the increasing importance of the region to the worldwide numbers. It is indeed a very exciting time.”
The Economist Group is a private company. The publications and services delivered under The Economist Group brands include The Economist newspaper, Economist.com, Economist Intelligence Unit, Economist Conferences, Economist Corporate Network, The World In and Intelligent Life. The Group’s other global brands include CFO, a publication for senior finance executives (CFO, CFO Europe, CFO Asia, CFO China, CFO India, CFO Russia, CFO.com), EuroFinance Conferences, Roll Call (including GalleryWatch) and European Voice (aimed at decision-makers in Capitol Hill and Brussels, respectively).