Former Asia CFO takes up CEO position

United Business Media has announced that it has appointed John Day as CEO of its RISI, Inc. forest products media subsidiary (formerly known as Paperloop.com). John, a former colleague, has most recently been CFO at CMP Technology but, prior to that, held the same position at CMP Asia through the late 1990s.

At the same time as this announcement, United noted that it had acquired an additional 2% of the equity of RISI from its private equity partner Pegasus Capital Advisors L.P. for $1m. The equity purchase brings UBM’s total shareholding in RISI to 52%, giving UBM a controlling interest in the company.

The press release notes that "in recognition of China’s role as an increasingly important customer to the forest products industry, RISI also headquarters its Asian business in Shanghai".

Good luck with it, John.