Future appoints Jon Steinberg as its new chief executive

Jon Steinberg will join FTSE 250 publisher Future as its new chief executive officer from 3 April, the group said on Wednesday. 

Mr Steinberg will succeed Zillah Byng-Thorne, who announced her intention to stand down last September. 

Ms Byng-Thorne will step down from her current role on 31 March but will remain available to support Mr Steinberg over a two-month transition period to ensure a smooth handover of responsibilities.

Future shares were down 1.74 per cent or 25.00p to 1,412.00p today, having fallen over 40 per cent in the last year. 

Future said Mr Steinberg was an experienced media executive, ‘with a strong track record of innovation, scaling media groups and creating value’.

Most recently, he was the president of Altice USA’s news & advertising division, which encompasses News 12, i24NEWS, Cheddar News, and Altice USA’s a4 Advertising unit. 

He joined Altice through the sale of Cheddar News, a digital-first innovative news company, which he founded in 2016.

Prior to that, he was the chief executive of DailyMail.com North America, having joined from BuzzFeed, where he was president & chief operating officer.  

He is also currently a senior adviser to The Raine Group, which is conducting the sales process of Manchester United.

Mr Steinberg, said: ‘I am delighted to be joining Future. 

‘It is a business that I’ve followed closely and long admired for the way it has redefined the media playbook, marrying the best of editorial and technology. 

‘I look forward to working with the Board and the leadership team to build on the success achieved under Zillah’s tenure.’

Richard Huntingford, the group’s chair, added: ‘Jon has highly valuable expertise and has developed a fantastic track record, combining entrepreneurialism with leadership at some of the very best digital and media organisations operating at scale. 

‘He is a charismatic leader with a deep understanding and passion for media, particularly how technology, creativity and innovation can be harnessed to accelerate growth and build significant value for stakeholders. 

‘As we look to further extend Future’s leadership, particularly in the US, Jon is a natural fit.

‘On behalf of the Board and all of Future I would like to thank Zillah for the exceptional role she has played for almost a decade. 

‘Through her leadership, Future has transformed beyond recognition, from a loss-making magazine publisher into a leading digital media platform of 250 brands reaching 1 in 3 adults online in the US and UK, and delivering market-leading returns for our investors in the process.’

Earlier this month Future reiterated its full-year guidance despite a continued slowdown in audience numbers and consumer spending.

The MoneyWeek and Marie Claire UK publisher told investors its full-year adjusted operating profits were expected to align with forecasts, having risen by 39 per cent to £271.7million.