Reed Elsevier announces appointment of Chief Executive Officer for Science & Medical Division
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Reed Elsevier Group plc today announced the appointment of Erik Engstrom as chief executive officer of Elsevier, its global scientific and medical publishing division.
Mr Engstrom will join the company in August 2004 and will be based in Amsterdam. He will be a main board director of Reed Elsevier Group plc reporting to Sir Crispin Davis, Reed Elsevier's chief executive officer.
Mr Engstrom (41), who is Swedish, has been based in the US for the past 18 years. He joins Reed Elsevier from General Atlantic Partners, a private equity firm, where he was a general partner leading their media and consumer investment sector since 2001. Prior to that, Mr Engstrom had extensive experience in the publishing sector as president and chief operating officer of Random House Inc, the leading global consumer books publishing business of Bertelsmann. He was also president and chief executive officer of Bantam Doubleday Dell before its merger with Random House. Mr Engstrom began his business career as a consultant with McKinsey after gaining his MBA from Harvard Business School where he was a Fulbright Scholar.
Commenting on the announcement, Sir Crispin Davis said: “I am delighted to welcome Erik to Reed Elsevier. He is an exceptionally talented executive with a consistent track record of success, wide international experience, and extensive publishing expertise. He will bring strong leadership to the Elsevier business”.
On joining Reed Elsevier, Mr. Engstrom will be appointed to the Boards of Reed Elsevier PLC and Reed Elsevier Group plc and will be put forward for election to the Executive Board of Reed Elsevier NV at the annual general meeting of that company in 2005.
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For further information please contact:
Susanna Smart, Reed Elsevier, tel +44 (0) 20 7166 5674
Notes to editors
Reed Elsevier Group plc
Reed Elsevier Group plc is a world leading publisher and information provider. It is owned equally by its two parent companies, Reed Elsevier PLC and Reed Elsevier NV. The parent companies are listed on the London, Amsterdam and New York Stock Exchanges, under the following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL. In 2003, Reed Elsevier made adjusted profit before taxation of £1,178 million (€1,708 million) on turnover of £4,925 million (€7,141 million). The group employs 35,000 people, including approximately 22,000 in North America. Operating in the scientific, legal, educational and business-to-business sectors, Reed Elsevier provides high value and flexible information solutions to professional end users, with increasing emphasis on internet delivery.
For further information, please visit the company website www.reedelsevier.com.