Former Random House executive Erik Engstrom has been appointed CEO of Reed Elsevier, succeeding Ian Smith who had been in the position for about eight months. Engstrom had been head of Reed’s Elsevier scientific publishing operation. The departure of Smith was by “mutual agreement,” the company said. Reed chairman Anthony Habgood thanked Smith for his service “during unprecedented turbulent economic times.”
In addition to Elsevier, Reed’s other holdings include Reed Business Information (home of PW, LJ, SLJ) and Reed Exhibitions (home to BookExpo America). In an update on business for the first nine months of 2009, Reed said RBI “continues to face difficult trading conditions particularly in advertising markets.” The update added that the sale of controlled circulation magazines in the U.S. and certain other titles (including PW, LJ, SLJ) “is in progress to reposition the portfolio.”
