VNU Business Names Krakoff New CEO, Creates New Position for Marchesano
From 1996 to 2004, he was chairman and CEO of Advanstar, Inc., parent to Advanstar Communications. Before that, he spent 23 years with Reed Elsevier, where he served in several positions including vice chairman of Reed Elsevier USA. Marchesano joined VNU in August 1999 as president of Bill Communications. In June 2001, he was named president and CEO of VNU Business Media USA, responsible for VNU’s portfolio of business publications and trade shows. Prior to joining VNU, Marchesano spent 22 years with BPA International.
In related news, VNU announced today that 26 editorial, production and publishing staffers were laid off from the company’s Billboard Information Group, which publishes Radio & Records and Billboard magazines. Seventeen of the layoffs came from Radio & Records, and the other nine were from Billboard, the company said in a news release.
The Netherlands-based media company was purchased in June for $9.7 billion by a consortium of private equity firms called Valcon Acquisition B.V. To date, Valcon has replaced all but one member of the company’s Board of Directors with executives from the firms that purchased the company, and said goodbye to Rob van den Bergh, who was replaced by Ruijter. Sources say the naming of new CEO is imminent. Sources say it will be several months before the company will sell any of its publishing holdings.
U.S.-based VNU Business Media currently publishes 45 business publications, including Adweek, Billboard and Editor & Publisher magazines; 17 directories, stages 70 events and conferences and 65 trade shows, and operates 165 eMedia products (e-newsletters and Web sites). VNU’s business information division had 2005 revenues of about $618 million and EBITDA of $109 million.