Emerald Expositions announces change in leadership along with third-quarter earnings
Emerald Expositions Events, producer of NY NOW and ASD, announced that David Loechner has resigned his position as President and Chief Executive Officer and as a member of the Board of Directors, effective on November 8, 2018. On the same day as the announcement of Loechner’s resignation, Emerald released their third quarter financial results. Overall, revenues increased 2.7 percent to $103.1 million, according to statements released by Business Wire.
“For the third quarter of the year, our trade show portfolio performed in line with our expectations as robust growth from several of our trade shows, including Outdoor Retailer Summer Market and CEDIA Expo, was offset by softness in NY NOW and ASD. Importantly, we believe that our initiatives designed to address the challenges in NY NOW and ASD are starting to have an effect and, while they may take a few cycles to fully take hold, we are on the right long-term path to stabilize the performance of these important franchises,” reported Philip Evans, Chief Financial Officer.
Evans has been appointed by the Board of Directors as Interim President and Chief Executive Officer, effective on November 8, 2018 and until a permanent replacement is named.
Loechner has been with Emerald and its predecessor companies for more than 35 years. “This was a difficult decision to make,” he said. “However, I believe that the company is well positioned in its industry and its end markets, and this is the right time for me to retire from Emerald. It has been an honor and privilege to lead the company over the last eight years and to have worked with so many talented people. Together we have accomplished a great deal, and I look forward to working with Phil and team, through the end of the year, to ensure the business transitions smoothly,” Loechner said.
Kosty Gilis, Chairman of the Board, commented, “On behalf of the Board, I would like to thank David for his leadership and numerous contributions over the past five years as we successfully built Emerald into the leading business-to-business trade show operator in the United States. With David’s strategic vision and day-to-day management, we have built a strong foundation consisting of a portfolio of industry leading shows and events that position Emerald for continued success.”