MUMBAI: The Financial Times has tapped its commercial whizz Jon Slade as the new chief executive, ending John Ridding's mammoth 18-year stint at the helm of the prestigious pink paper.
Slade, who's been flexing his muscles as chief commercial officer since 2014, will take the reins this summer after overseeing a whopping three-quarters -including global advertising, print circulation, consultancy and subscriptions - of the FT group's annual revenue streams.
The 51-year-old commercial hotshot has pulled off the seemingly impossible – steering the FT's advertising business back into growth while rival media outlets watched their numbers plummet faster than a lead balloon. Additionally, he has recently overseen the expansion of the group’s consulting business, FT Strategies.
"Jon has both the leadership skills and commercial acumen to take the FT Group to new heights," gushed Japanese parent company Nikkei chairman & CEO Naotoshi Okada. The venerable paper is now one of the flashy titles under the Japanese media and financial information powerhouse.
Under Slade's commercial stewardship, the FT has been raking in the cash, with revenue and readership figures climbing steadily over the past decade. The media powerhouse now boasts a global paying audience of 2.9 million, including 1.5 million subscribers who fork out for online and print content.
With AI sending shockwaves through the media landscape, Slade will be tasked with navigating the digital revolution's next chapter. The savvy operator has already orchestrated a licensing deal with OpenAI, getting ahead of the game while other publishers were still scratching their heads.
"There has rarely been a more consequential period for professional news media," Slade declared, clearly relishing the challenge of his promotion.
The London-based group reported a tidy £540 million in revenues last year, up from just over £500 million in 2023 – proof that quality journalism can still bring home the bacon even as the industry weathers seismic technological shifts.
