Nielsen CFO Jamere Jackson Resigns

Less than three months since Nielsen announced CEO Mitch Barns will be retiring at the end of the year, Chief Financial Officer Jamere Jackson is leaving too, to 'pursue an opportunity outside of the company'. He is being replaced by former Honeywell CFO David Anderson.

In July, shares in Nielsen fell 27% after the firm lowered its outlook for 2018 and announced Barns' plans to leave. At the time, Nielsen reported a group revenue increase of 0.2% - a decline of -0.7% in constant currency terms - to $1.647bn for the second quarter, while net income decreased 45.9% in constant currency terms to $72m. During the second quarter of 2018, the company recorded restructuring charges of $65m, which it says reflects continuing efforts to 'rightsize' the business, the current market realities, and acceleration of its cost-out initiatives.

Jackson has resigned after four years in the role. Anderson (pictured) will replace him on September 10th, bringing with him extensive experience as the CFO of multinational public companies. From 2003 to 2014, he served as SVP and CFO of industrial firm Honeywell, during which time the company's revenues nearly doubled to $40bn. Previously, Anderson was CFO of diversified manufacturer ITT Industries and of Newport News Shipbuilding. He also spent five years as a divisional CFO at RJR Nabisco, and he has held financial roles at Kraft, and The Quaker Oats Company. Most recently, he spent less than a year as CFO of Alexion Pharmaceuticals.

In his new role, Anderson will oversee all financial functions and will play an active role in communications with shareholders and analysts. James Attwood, Executive Chairman of Nielsen, comments: 'We are extremely pleased to have Dave join us, especially during this important time for the company. Dave's deep financial expertise and strategic skills will enable him to make a strong and immediate contribution to Nielsen'.

Web site: www.nielsen.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.