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Reed Elsevier has appointed Ian Smith, the former chief executive of British housebuilder Taylor Woodrow, as its chief executive designate from January 1st.
He will assume the position when outgoing chief executive Crispin Davis retires from the role in March.
Reuters reports that the planned sale of its trade publications unit is ongoing. It quotes a source who suggested a financing package offered by Reed for the sale of the unit might come in smaller than expected, causing bidders to reexamine their offers.
At Taylor Woodrow, Smith most recently completed a merger of the company with George Wimpey.
Reed chairman Jan Hommen said Davis had "defined the strategy and transformed the business to make Reed Elsevier one of the leading digital professional information companies in the world".