Lord Chadlington is to step down as group CEO of PR and healthcare communications company Huntsworth.
Chadlington, a Conservative peer, made the announcement as the company revealed its six month financial figures for the year, included a pre-tax profit of £7.7m, with revenue having reached £83.1m (down from £88,9m during the same period for 2013.)
Of his decision to step down, he said: “It has been my intention for some while to stand down and I am delighted that I will do so just as the economies of the world are turning for the better and that we have a management team which will make the most of this all-important investment plan which is now well under way. I am extremely proud of Huntsworth and what we have created."
Within the company’s figures, it was found that more than two thirds (69%) of PR revenue came from within the UK and Europe, while like-for-like revenue in USA, Middle East and Asia Pacific increased by 5 per cent on the previous year.
Digital revenue made up 28 per cent of group revenue.
"At the 2013 year end we reported that we would continue our investment programme for a second year in order to build multi-office business, to increase our digital revenues and to increase revenue growth in the USA, the Middle East and Asia Pacific, thereby reducing our high dependence on the UK and Europe. While the pace of these increases in the first half has been slower than we hoped, we are making some good progress, which we expect will continue in the second half and accelerate in 2015,” stated Chadlington.
The search for a new group CEO to success Lord Chadlington has begun the company has said.