F+W Dismisses Top Execs Amid Layoffs

In a dramatic changing of the guard at the niche magazine publisher, F+W Media has dismissed its CEO, COO, and CTO, Folio: has learned.

The company’s board of directors revealed Monday its decision to part ways with CEO Tom Beusse, COO Joe Seibert, and CTO Joe Romello, installing Greg Osberg, CEO of media consulting firm Revlyst, as F+W’s interim CEO while a replacement is sought.

The dismissals come as the New York-based publisher moves to lay off about 40 staffers from its Iola, Wisconsin office, following an earlier round of cuts in December.

In a brief phone call with Folio:, interim CEO Greg Osberg described the circumstances around the changes and his consultative role with the company.

After determining that a change was needed, Osberg tells Folio:, ownership decided to bring him on—as well as a team of consultants from business advisory firm FTI Consulting—in a move that’s less an indictment of existing management’s strategic plan, but rather indicative of a desire to expedite the company’s necessary transformation.

“They were not necessarily in disagreement with the strategy that had been laid out, but they wanted to see a little more rapid deployment and transformation around that strategy,” Osberg says. “The actions of the owners by hiring FTI and an entire team of former operators to come in and help the company should be taken as a very good sign.”
more at:  http://www.foliomag.com/fw-dismisses-top-execs-amid-layoffs/

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