Lesley Kelly, former MD of sales for Southeast Asia, South Asia and Australasia, has been promoted to the newly-created position of MD, sales, Asia. Hormuz Mehta will cover Kelly's former Southeast and South Asia markets.
Other shifts in the consumer division include senior business planning manager Connie Cheng's move to circulation planning and operations director, and marketing manager Florence Tsui promoted to senior acquisitions marketing manager. One company insider said the restructure was prompted by US concerns over the company's share price and profitability of its regional operations. Asia-Pacific, which returned to profitability in 2006 compared with a lean few years leading into last year, is expected to feel the pinch, according to the source. "The share price has been hovering around US$36 to $37, but the US management team has stated it should be around $55 to $60," said the source. "But they're not organically growing profit - they're slashing costs and getting rid of experienced staff (in Asia-Pacific). Now they're really starting to cut into the muscle; there's no more fat."
Despite last year's profit, it has had a difficult few years, typified by the relaunch of the Far Eastern Economic Review.
In another unrelated move, Dow Jones & Company has restructured its Enterprise Media Group in a bid to boost its business in the financial, corporate and media, and government markets.
The reorganisation, which follows the company's acquisition of Factiva, sees the Group split into three business units: Indexes and Reprints, Financial Information Services and Content Technology Solutions.
"This is a strategic reorganisation to sustain our momentum in Asia, after a strong 2006" said a Dow Jones spokesperson.
