Flaye steps down at Quantum



Richard Flaye, chief executive and co-founder of Quantum Business Media, publisher of Press Gazette, is stepping down to become non-executive vice-chairman.

Neil Thackray, launch publisher of the Industry Standard (Europe), is to take his place as chief executive.

John Bednall, Quantum’s other co-founder, is also leaving. Sarah Traynor, group director of the hospitality division, will become deputy chief executive.

The management changes coincide with a number of job losses. There will be around eight redundancies across the group.

Flaye, who started the company in 1989, said: "To pass over the chief executive’s baton to somebody else has not been an easy decision. But, in Neil, we have attracted an outstanding new leader who is just the right person for the job at this stage in Quantum’s life.

"As founder, I have been working in the same job and the same company for more than 12 years now. For a while I have been wanting a new challenge and with Neil’s appointment I am able to move on."

Flaye is hoping to take up other non-executive positions, while retaining a 22 per cent share in Quantum.

Thackray has been a publisher of B2B magazines for more than 16 years. He was previously publishing director of Caterer & Hotelkeeper at Reed Business Information, before moving to United Business Media (formerly Miller Freeman UK), where he was executive director in charge of the healthcare, travel, engineering and chemical sectors, as well as online products. He joins on 16 July.

Thackray said: "Quantum is a young and vibrant company with plenty of ambition and I am looking forward to building on the tremendous work that Richard has led in the past 12 years."

By Ruth Addicott

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