Financial Times experiences leadership change as Jon Slade ascends to the highest position
After three decades with the Financial Times (FT) Group, John Ridding, a renowned foreign correspondent and former CEO, has stepped down, paving the way for a new phase of leadership [1]. His successor, Jon Slade, has been appointed as the new CEO, bringing a wealth of commercial and audience growth experience to the table.
Slade, who has been the FT's chief commercial officer since 2014, played a significant role in the turnaround of the FT's advertising business. His tenure was marked by impressive achievements, including hitting the one million paid-for users milestone ahead of schedule, a testament to his successful audience growth strategies [1].
Under Slade's leadership, the FT Group is expected to introduce fresh perspectives to navigate the challenges posed by generative AI and broader industry changes. The emphasis seems to be on leveraging the trust-based culture within the Nikkei Group ownership to enable agile decision-making, despite initial concerns about corporate consensus slowing progress [1].
Slade's focus on digital subscription growth, innovation, and aligning the FT Group’s strategy closely with evolving industry trends is evident. Although specific details about his approach to generative AI integration are not extensively documented, the transition signals a focus on innovation and expanding the paying global audience beyond established benchmarks [1].
Ridding, who led the FT Group for a decade, oversaw consistent growth in readership and revenue. The FT Group's annual revenues topped £540m in the previous year, with Slade responsible for over three-quarters of this figure [1]. Ridding's departure was due to the challenges posed by generative AI, generational change, new reader habits, and demands, necessitating a new phase of leadership [1].
Naotoshi Okadad, Nikkei chief executive, praised Slade's leadership skills and commercial acumen, expressing confidence that he can take the FT Group to new heights due to his understanding of the interface between business and technology [1]. Slade has been instrumental in the expansion of FT strategies, including its consulting arm, further demonstrating his strategic capabilities [1].
Slade joined the FT in 2002 and has spent 30 years in the media industry. His appointment as the new CEO of the FT Group marks the culmination of two decades with the organisation. Nikkei, which acquired the FT in 2015 under Ridding's leadership, has expressed optimism about the future under Slade's guidance [1].
In summary, Jon Slade's appointment as the new CEO of the FT Group signals a focus on innovation, digital subscription growth, and aligning the FT Group’s strategy closely with evolving industry trends. His track record suggests a strategic leader well-equipped to navigate the challenges of the modern media landscape and drive the FT Group towards new heights.
[1] Source: Various news outlets, 2021-2022.
Technology plays a significant role in Slade's strategic approach as he focuses on integrating generative AI and expanding the FT Group's digital presence. His transition as CEO is expected to foster growth in finance, as evidenced by his impressive achievements in audience growth and revenue during his tenure as FT's chief commercial officer.
