The CEO of The Economist has resigned

The Economist CEO Chris Stibbs has stepped down from his post after five and a half years and 13 years at the publisher, reports Lucinda Southern of Digiday.

Southern writes, “In an internal email sent Nov. 26 seen by Digiday, Stibbs remarked that subscriptions to The Economist are now the biggest contributor to Group profit and they have significantly reduced the publication to exposure in heavily disrupted media markets.

“‘We must continue to build a culture of technical excellence that will allow our digital products to match the world-class quality of our journalism and analysis; we must also help the Economist Intelligence Unit continue its trajectory of growth, fuelled by new product lines,’ reads the email. Stibbs will remain in his position until the board appoints a successor, which could take between six to 12 months.

“An Economist spokesperson has confirmed his departure.

“Stibbs’ exit follows that of around 15 people across the media and circulation teams in the U.S. and U.K., while total staff across the media and circulation teams is roughly 400 people.”

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