The Daily Telegraph is reporting that David Gilbertson has resigned as CEO of Emap.
Emap, was bought in 2007 by Eden Bidco Ltd, a joint venture between private equity company Apax and Guardian Media Group. They paid around £1bn. Since then Emap has struggled to meet projections and both investors have been forced to write down the value of the investment
David Gilbertson joined EMAP from Informa in 2008. It is thought he was looking to renegotiate the management award scheme. It maybe that Emap’s top 20 executives have all their equity under water.
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- Apax to sell Hit Entertainment Posted on October 31, 2010
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- Apax Partners and Guardian Media Group discuss the future of Trader Media Group Posted on October 18, 2010
- Emap has acquired The Energy Event September 6, 2010
- Andrew Miller appointed chief executive officer of Guardian Media Group Posted on July 5, 2010