Time Out Group Announces New CEO

NEW YORK, July 9, 2012 /PRNewswire/ -- David King, Time Out Group's CEO is stepping down at the end of July after four years with the company. Aksel van der Wal, the group's COO and President of Time Out New York, will take over as CEO, following a short handover. Before joining Time Out last year, van der Wal was CFO of Seatwave and before that, CFO of Vodafone's Global Business Development unit. The company is currently carrying out an extensive search to find a candidate for the position of President of Time Out New York.

David King said, "Time Out has been restructured, refinanced, moved back into profit, reintegrated with the US sister company, and is delivering strong traffic and digital revenue growth. The business has a good team in place and now is the right time to handover as the business moves into a delivery and growth phase, rolling out its new online and mobile digital services in the UK, US and across the licensee network."

Founder, Tony Elliott said, "David is a highly trusted and effective CEO, and has successfully led Time Out through one of the most difficult periods in its history. I am hugely grateful for all that he has done."

Peter Dubens, founding partner of Oakley Capital, which acquired a majority stake in Time Out Group in 2011, said, "David did a great job in turning Time Out into an investable business and subsequently in building the team and preparing the business for further growth, and I am delighted that Aksel, the group's COO will now become CEO."

About Time Out New York:

Time Out New York is a comprehensive arts and entertainment multiplatform media business, delivering engaging features, local listings and critical reviews to active and informed residents and visitors of New York City. Sometimes irreverent but always intelligent, Time Out New York provides passionate coverage of music, film, theater, dance, shopping, dining, and more.  Time Out New York is part of Time Out Group, the global media business delivering local information and cultural guidance in 37 cities across 25 countries and encompassing a worldwide audience of more than 18 million.

CONTACT:
Lauren Reddy
Digital Marketing Publicist | Time Out North America
(646) 432-3090 | [email protected]

SOURCE Time Out Group