Haank Leaves Reed Elsevier for Springer

-- Library Journal, 06/19/2003

In a sign that Cinven and Candover, the private equity firms that recently acquired Bertelsmann's Springer, wish to become major players, they have a new CEO for Springer: Derk Haank, until June 18 a director of Reed Elsevier and chief executive of the group's science and medical division. According to a Reed Elsevier announcement, Haank will take the job in early 2004; the acquisition remains subject to regulatory approval. Crispin Davis, Reed Elsevier CEO, commented that Haank "has made a major contribution to the development of the science and medical business over the last five years, most recently in the successful integration of the Harcourt acquisition." He added: "The business is in very good shape, has a strong management team, and should see another year of significant outperformance of its markets. We will be taking steps to appoint a new chief executive of the division."