David Levin today quit as chief executive of FTSE 250 events and information group UBM, sparking speculation he wants a bigger job.
“I feel that it is the right time to look for my next challenge,” said Levin, 51, who will leave by July next year, having taken the helm in 2005.
Chairman Dame Helen Alexander will lead the search for his successor.
Levin slashed UBM’s reliance on print, selling titles such as Music Week and The Publican, and made more than 100 acquisitions as he pushed into business events and emerging markets.
UBM said total shareholder return rose 89% and the share price climbed 37% during his tenure, while he returned £900 million of cash to shareholders.
The shares today fell 1.5%. Panmure Gordon analyst Alex de Groote said there was “no suggestion of trading concerns” behind Levin’s exit and reckoned it could be a “positive catalyst” by triggering a break-up of UBM.
