Reed Elsevier CFO resigns after just 10 months

25th Sep 2013 07:03

Reed Elsevier's Chief Financial Officer (CFO) Duncan Palmer has handed in his resignation after just 10 months in the role. Palmer, who has been CFO since November 2012 and joined Reed as CFO Designate in August 2012, will step down on September 25th 2014 in order to return to the US for family reasons.The London-based company, which provides professional information services, has started searching for a replacement. "I have enjoyed my time with Reed Elsevier enormously and wish that circumstances were such that I was able to stay with the company," Palmer said."I am impressed by the quality of the business and the management team and I am confident about its continued success. I will, of course, continue to be fully committed to Reed Elsevier until a successor is in place."Chief Executive Officer, Erik Engstrom, added: "Duncan has made an important contribution to the business and I am disappointed that his family circumstances require him to return to the US. I look forward to continuing to work with him until his successor has been identified. We wish him all the best for the future."RD