Haymarket staff were informed this morning that the end of Durhams' contract has been brought forward to coincide with other management changes, due to take place in January next year, so that "the inevitable review that follows from such changes can be conducted now in the same timescale".
Last week, Haymarket executive chairman Lord Heseltine announced he was bringing to an end his 50 years at the helm of Haymarket Media Group, publisher of Brand Republic, and handing over the reins to his son Rupert.
Heseltine's decision to relinquish his role was announced
These included Kevin Costello, chairman and managing director of Haymarket Consumer Media, and chairman of Haymarket Network, assuming responsibility as group managing director for all UK businesses, as well as India, Australia, Germany and Hong Kong.
Costello will take over all Martin Durham's direct reports and will also conduct a review of the businesses he has inherited.
Durham, who joined Haymarket in 1980 and then left to spend time at VNU and IDG before returning to the company in 1990 as publishing director of Marketing and PR Week, said the past decade had been "a particularly exciting time" for the business division of Haymarket.
Durham said: "HBM has grown fast and developed into a varied and complex operation. I am proud to have led the business through this growth despite the turmoil of both structural and economic changes in recent times."
Michael Heseltine said it was with "very great regret" that he passed on the news of the departure of Durham, who had made "a long and remarkable contribution to our business-to-business media activities".
He said: "Under his leadership we have established leading brands in many fields. He has guided us along the uncharted paths from print to the web so that our print titles are now partnered by successful online activities.
"In addition he has developed live events and information businesses and also presided over the establishment of two of our most successful overseas subsidiaries in Germany and Hong Kong. He leaves us with every good wish for his future career and deep gratitude."
Haymarket Business Media publishers more than 50 magazines, including ±±¾©Èü³µpk10, Management Today, PR Week, Marketing, Print Week and Third Sector, associated websites and print and online directories across a number of business sectors.
The HBM operation, which also incorporates awards, conferences, seminars and networking forums, has offices in London, New York, Germany and Hong Kong.
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