After more than two decades with the company, Greg Farrar is leaving Nielsen Business Media as president. Farrar confirmed his departure in an e-mail to FOLIO:.
It was not immediately clear who Farrar’s replacement would be. A Nielsen spokesperson did not immediately return requests for comment.
UPDATE: "Having managed the trade show business through the economic downturn while also divesting some of the publications, Greg feels he has accomplished his goals at Nielsen and decided it is the right time to seek greater opportunities," a Nielsen spokesperson said.
Nielsen does not have plans to name a replacement for Farrar as president. Farrar will remain with the company for a "transition period" andadvise the company’s remaining publishing assets not associated with atrade show. After that, Andy Bilbao, senior vice president of brand media, will oversee those publications while the company evaluates "strategic alternatives."
Meanwhile, senior vice presidents Joe Randall and David Loechner will now manage the newly-created Nielsen Expositions group, the spokesperson said.
Farrar [pictured] was appointed president of Nielsen Business Media in November 2007. Prior to that, he served as COO. Over the years, Farrar held several titles within The Nielsen Company (formerly VNU), including president of the VNU Expositions group.
Last month, Nielsen sold eight media/entertainment brands—including Billboard and The Hollywood Reporter—to e5 Global Media, a new company formed by private equity firm Pluribus Capital Management and financial services firm Guggenheim Partners.
Through the first nine months of 2009, Nielsen reported a $151 million operating loss for its business media segment, compared to an $85 million operating income during the same period in 2008. Revenues for the segment through the third quarter were $258 million, down more than 30 percent from $371 million during the same period last year.
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