CEO of Penton Media Steps Down

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John French released an internal memo today announcing that he is stepping down as CEO of Penton Media. He will continue to stay on Penton's Board of Directors and will work with Wasserstein and MidOcean on new media opportunities. French has been with various incarnations of Penton for 19 years.

"We believe that my leaving is truly the next step in a significant transformation which is already well under way across the organization. New leadership from the CEO position will help bring new thoughts and new ideas to Penton."

Wasserstein & Co. purchased Prism Business Media from Primedia in August 2005 for $385 million. Prism Business Media was then merged when Wasserstein purchased Penton Media in November 2006 and the combined entity took on the Penton name.

French's replacement has yet to be selected.

For more details about French's exit, check out the July 21st issue of min's B2B.

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