Media group Future has announced the resignation of its CEO Stevie Spring and financial director John Bowman.
The resignations have taken place with immediate effect, with the board appointing Mark Wood, head of Future UK and UK financial director Graham Harding to replace them.
Spring became CEO of Future in 2006 after six years as chief executive of Clear Channel, she also chairs BBC Children in Need, while Bowman joined the company as group financial director in 2001 from Scottish Radio Holdings.
Peter Allen, recently appointed chairman of Future, said: "The Board would like to thank Stevie and John for their considerable contribution in leading Future through a period of unprecedented change. The recent restructuring which positions the company for its digital future has allowed the Board this opportunity to achieve substantial savings by eliminating an entire tier of corporate overhead.
“The Board is confident that the market-leading progress in generating digital revenues will continue under Mark's stewardship. He and Graham can now manage a more profitable business to the benefit of both shareholders and staff."
Mark Wood added: "I'm delighted to be taking over from Stevie at such an exciting time in our development.
“We are making amazing progress on line and on mobile, demonstrated just this month by our success on the Apple newsstand.
“We have the pieces in place to achieve sustainable growth in all our core verticals,” he concluded.