Publishing giant Future has hired ITV veteran Sharjeel Suleman to be its new chief financial officer as the firm tries to rebound from a profit slump last year.
Suleman is due to replace Penny Ladkin-Brand, who previously announced she would step down on 28 July 2024.
Current deputy CFO Jean du Preez will take over in an interim capacity before Suleman joins Future, which owns titles including Marie Claire, Country Life and Four Four Two.
Suleman is currently finance chief at ITV Studios, a role he has held for nearly five years. He has worked at the broadcasting giant since 2005 in a range of financial roles.
He began his career at KPMG in 2000, where he qualified as a chartered accountant.
Suleman’s appointment comes as the FTSE 250 group attempts to revive its flagging share price and recover from a brusing 2023.
While the firm announced a “growth acceleration strategy” in December, investors have continued to head for the exits. The stock has fallen 38 per cent in the last year.
In an effort to become “more agile and less complex”, Future has reorganised its corporate structure into three business units: B2C, Go Compare and B2B.
In February, it reported improved revenue in its first quarter, although profit was down nearly a fifth to £138m at the end of last year on poor performance in the US and a “challenging advertising market”.
Jon Steinberg, Future’s chief executive, on Thursday touted Suleman’s “fantastic industry experience from his roles at ITV, in particular, driving growth across international markets”.
Suleman commented: “The media industry is one that I’m very passionate about and the opportunity to work with Jon, and the wider executive team at Future, as they embark on this next chapter is one that I’m very excited about and look forward to being part of.”