Robert Ferguson departs as Economist regional sales director

Ferguson told Campaign Asia-Pacific he is leaving of his own accord and his last day will be this Friday (14 September). Declining to disclose a reason for the move, Ferguson said he will be working with charitable organisations in Hong Kong and overseas.

The role will not be filled. Tim Pinnegar, currently regional managing director for The Economist, will assume overall media sales responsibility, Ferguson said.

In June, The Economist reported record operating profit of £67.3 million (US$107 million) for the full year ended 31 March, up 6 per cent over the previous year. Revenue rose 4 per cent to $579 million, and the publication reported circulation of 1.62 million, including 123,000 digital subscriptions. In its annual report, The Economist stated that revenue in Asia grew 15 per cent year-on-year to US$54.3 million, and the region accounted for US$3.91 million in operating profit, about 3.7 per cent of the total.

Ferguson said he is proud of maximising market share across the region while spending on print pages declined. The region has seen the number of regional print pages fall from 5,000 five years ago to around 3,000 today, but The Economist has increased its share from 17 to 25 per cent, he said. 

At the same time, Ferguson allowed, there has been a trend toward local budgets. The Economist has moved to capture those dollars with local advertising editions in Hong Kong, Singapore and Australia, and has also launched a lifestyle publication, Intelligent Life, he added.