Reed Business Information Australia is set to be rebranded as Cirrus Media, with new private equity owners Catalyst flagging investment into key areas of the business.
The sale of Australia’s largest business to business publisher, which counts B&T, Australian Doctor, Australian Mining and Money Management amongst its stable of titles, went through at the end of January.
A new management structure has been unveiled, with Jeremy Knibbs staying on CEO and former Sensis group financial controller Jeff Godwin appointed as chief financial officer.
Four of the directors, Knibbs, chief revenue officer Ben Sole, HR director Gloria Madden and Peter Small, the newly appointed chief operating officer and Anthony Byrne, the chief product officer, have all taken shares in the new company.
Whilst there will be no immediate changes to the publications portfolio, there have been eight redundancies from production and support roles including managing director Suzanne Coutinho and publisher of the travel, media and law group John Nuutinen, from more than 300 employees.
At a company meeting on Friday Knibbs told staff it would be “business as usual” and outlined a number of areas the company is looking to expand into, with investment in “key areas” of the business.
He said the new name Cirrus had symbolic meaning for the new entity as “it is a cloud that leads change”.
Extra money will be put into the Hotfrog directories business.