XLMedia recruits former Time Out chief as new CEO

XLMedia has confirmed the recruitment of ex-JPIMedia Group chief executive David King as its new CEO with effect from 1 July. King replaces prior XLMedia CEO Stuart Simms who announced his intention to leave the affiliate on 4 April and will leave the company following a handover period. King will also join the firm’s board of directors following his installation as CEO. An experienced media professional, King most recently served as CEO and chairman of JPIMedia Group, which operates a significant number of local and national newspapers, most notably the i, which was launched under his tenure. King’s role included leading the digital acceleration programme, incorporating a data-led strategy to drive audience growth and building new digital revenue streams. He also oversaw an ongoing rationalisation programme, growth of the i newspaper and the sale of the group in three stages. Prior to this, King spent four years as the first CEO of lifestyle and entertainment magazine Time Out, and before then served as a chief financial officer of BBC Worldwide for nine years. In his early career, King spent six years as a management consultant at PwC, working with a number of blue-chip clients. He is a qualified chartered accountant. XLMedia non-executive chairman Marcus Rich referenced King’s extensive track record within the media sector, something Rich suggested would prove useful to the affiliate’s media strategy. “We are delighted to welcome David to XLMedia and believe that, with his significant digital publishing experience and proven track record of leading change, he will be a key asset in helping us capitalise on a number of growth initiatives,” Rich said. “David’s extensive knowledge of the media sector makes him the ideal candidate to lead the group and I and the board look forward to working with him,” he added. In March, the affiliate announced revenue of $66.5m (£50.8m) for full-year 2021, a year-on-year increase of 21%. Speaking about his new role, King said: “I am delighted to join XLMedia and am looking forward to working with the senior leadership team and all of the group’s staff, alongside the board, to lead the business in delivering the next phase of its development and realising the benefits of the company’s growth strategy.”