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The Financial Times has announced Jon Slade as its new chief executive in the first change in leadership of the media group for almost two decades.
Slade, who has served as chief commercial officer at the FT since 2014, will take over in the summer from John Ridding, who has led the publisher since 2006, including seeing through the sale of the company to Japanese media group Nikkei.
Announcing the appointment in a note to staff, Naotoshi Okada, Nikkei chairman and chief executive, said Slade had “both the leadership skills and commercial acumen to take the FT Group to new heights”.
In his current role, Slade already oversees businesses responsible for three-quarters of the FT Group’s annual revenues, including global advertising, print circulation, consultancy and subscriptions.
During his tenure, the FT’s advertising business returned to growth despite a wider sector decline. Revenue and overall readership numbers at the FT have increased every year over the past decade.
The 51-year-old will lead the next phase of digital growth at the FT at a time of disruption from artificial intelligence. The FT generates two-thirds of its revenues from online subscriptions and advertising.
The FT was one of the first global media groups to strike a deal to license its content to OpenAI for the development of its AI models and is working with regulators to support copyright laws.
Okada said that Slade’s experience had given him an understanding of the areas “where there is rich territory for future growth”.
“Crucially, he understands the interface between business and technology, and has been at the forefront of our efforts to harness the benefits, and mitigate the risks, posed by generative AI,” he said.
Slade said: “There has rarely been a more consequential period for professional news media. I look forward to tackling the opportunities and challenges that lie ahead in our rapidly shifting landscape.”
Before taking over the FT’s commercial operations and joining the management board in 2014, Slade held various roles within the group’s advertising business.
More recently, he has overseen the expansion of the group’s consulting business, FT Strategies.
The FT reported revenues of £540mn last year, up from just over £500mn in 2023. The London-based group has a global paying audience of 2.9mn, which includes 1.5mn online and print subscribers, as well as individuals who pay for events and FT Specialist publications.
