Matt Armitage, CEO of media company St Ives, has revealed his intention to retire by the end of the current financial year to be succeeded by chief digital officer J Schwan.
Succession planning has been in train for some time with Schwan assuming his new duties from 4 August whereupon Armitage will relinquish his authority but remain on hand as a special advisor to assist with the transition.
Chairman Richard Stillwell said: “The board is delighted to be able to appoint J as Matt's successor. He has unparalleled experience in delivering digitally based transformation services in a high growth environment. Since January 2018 he has been the group's chief digital officer and he has already made a considerable impact. We are confident in his ability to develop and implement a strategy for St Ives to become a world leading, digital business transformation group."
Schwan founded digital innovation firm Solstice which was later subject to a takeover by St Ives, leaving him with a 5% stake in the combined business.
Armitage first joined St Ives as chief financial officer back in 2007, impressing sufficiently to be promoted to CEO by 2014 by championing a wider pivot from print media to a strategic business service.