CEO of B2B Media Firm Penton Media Resigns

This story was written by Rafat Ali.
Penton Media, one of those troubled B2B media companies, is seeing more upheaval: John French, the CEO, is resigning. He will continue to stay on Penton's board and will work with Wasserstein and MidOcean, the two joint PE owners of the company, on new media opportunities. Wasserstein & Co. purchased Prism Business Media from Primedia (NYSE: PRM) in August 2005 for $385 million...it was then merged with Penton Media in November 2006 and the combined entity took on the Penton name. Folio: French's exit comes a month after Penton laid off 42 employees, and instituted a hiring freeze. The internal memo on his resig is also there.


By Rafat Ali

Popular on CBS News

Comments

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

Download