Financial Times (FT) deputy chief executive and global commercial director Ben Hughes is set to leave the business in July after over 30 years.

 

 

The FT was sold to Japanese media group Nikkei for £844m ($1.3m) in July last year, after nearly 60 years under the ownership of educational publisher Pearson.

“It has been a huge privilege to work for the best media brand in the business, and to work with some very smart people, who will only thrive under our new Nikkei ownership,” said Hughes of his departure.

“Nobody can stay forever, and this is a good time for me to step back and to hand the reins to others.”

A report in Campaign says that Hughes is set to work closely with chief executive John Ridding throughout the transition period, with successions plans and process to be announced at the right time.

In a staff email, also seen by Campaign, Hughes said: “There is no intrigue and no drama, no grief and no gossip. Just the desire, and the need, after 33 incredible years, to turn my attention to other interests.

“My passions outside media, as I think you know, include sport, luxury, education and charity, and I intend to become very much more involved in all of these in the future.”

This news comes following Hughes stepping down as chairman of Walpole after four years, with Harrods managing director Michael Ward taking over the position.