Chief executive Helen Alexander to step down

Chief Executive Helen Alexander to step down

The Economist Group today announces that its chief executive Helen Alexander is to step down at the Group's annual general meeting on 15 July 2008.

Helen joined The Economist as marketing manager in 1985, then ran international circulation before becoming managing director of the Economist Intelligence Unit till 1997, when she became chief executive.

Over the past five years, the operating profit of The Economist Group has increased by 75 per cent and the circulation of The Economist has increased by nearly 50 per cent1. Today the circulation of The Economist is 1,306,939: when she joined the company it was 264,000.2

Helen will become an adviser to Bain Capital and will continue as a non-executive director of Centrica plc and Rolls-Royce Group plc. She was previously a non-executive director of Northern Foods plc and BT Group plc.

The new chief executive of The Economist Group from 16 July 2008 will be Andrew Rashbass. He has been publisher and managing director of The Economist for three years. Prior to that he was managing director of Economist.com, having joined the company as chief information officer from Associated Newspapers in 1997.

Helen Alexander, chief executive of The Economist Group, said: "The Economist Group is in better shape than ever, and has had another record year. I'm proud of what we've achieved, and privileged to have led such a winning team. Now is the time for a new chief executive to take over. The temptation would be to stay too long: but it's the right time for me to move on.

"I expect our results for the year to March 2008 to show how strongly the Group continues to grow. I will leave the Group in excellent condition and hand over the reins to Andrew, who I know will build on the progress achieved to date. I would like to take this opportunity to thank all my colleagues who have worked to deliver our success, and have made my time with the Group so enjoyable."

Sir Robert Wilson, chairman of The Economist Group, said: "It is consistent with Helen's leadership and style that she is going at a time of her choosing when the Group is performing so well. She has been a hugely successful Chief Executive and leaves a marvellous business legacy, including a dynamic successor. On behalf of the Board I would like to thank her for her outstanding contribution to the Group and wish her well for the future."

(April 9th 2008)