A Legacy of Transformation and Growth

After nearly two decades at the helm of the Financial Times (FT), CEO John Ridding is set to step down on June 30, marking the end of an era for the renowned newspaper group. However, his journey with FT’s parent company, Nikkei, is far from over. Ridding will transition into a special advisory role, reporting directly to Naotoshi Okada, Nikkei’s chairman and group CEO. Additionally, he will take on the honorary title of FT chairman, a non-executive role designed to ensure a seamless leadership transition and strengthen collaboration between the Financial Times and its parent company.

The Financial Times has confirmed that the recruitment process for Ridding’s successor is in its final stages, with the new CEO set to take over on July 1.

 

A Storied Career in Journalism and Leadership

Ridding’s tenure at FT spans an impressive 35 years, during which he played multiple pivotal roles before stepping into the CEO position in May 2006. His career began as a foreign correspondent, reporting from Hong Kong, Paris, and Seoul, before transitioning into editorial leadership roles, including managing editor, features editor, deputy editor, and Asia editor.

Taking the reins as CEO was, in his own words, a “daunting leap,” as he faced the formidable challenge of digital disruption. Under his leadership, however, the Financial Times not only weathered the storm but emerged as a powerhouse in digital journalism. The transformation he spearheaded led to a global paying audience of 2.9 million and record revenues of £500 million in 2023.

 

The Digital Revolution: Ridding’s Lasting Impact

One of Ridding’s most significant achievements was steering FT into the digital age. He made three key decisions early in his tenure that proved instrumental in the company’s success:

1. Implementing a Paywall Model: Ridding led the charge in making FT a pioneer in digital subscriptions by introducing a paid content model, setting a precedent that many media organizations would later follow.
2. Direct Customer Relationships: Instead of relying on third-party aggregators, FT took control of its own content distribution, fostering direct relationships with its institutional and individual subscribers.
3. Strategic Pricing Adjustments: By raising the price of the newspaper, FT reinforced the value of its premium journalism while ensuring financial sustainability.

Today, over two-thirds of FT’s revenue comes from digital subscriptions, both consumer and B2B. Additional revenue streams include advertising, events under the FT Live banner, research, circulation, and consultancy services through FT Strategies.

 

‘Why Now?’: The Timing of His Departure

In his farewell message to staff, Ridding acknowledged the shifting landscape of media consumption, stating:

“Why now? We are in strong shape. Our brilliant team has responded to two decades of seismic shocks in the news media industry, pandemics, and other challenges with commitment, inspiration, and innovation. But it seems clear that a new phase of disruption is underway, with challenges ranging from generative AI to generational change and new reader habits and demands. So, this feels like a good moment for a new phase of leadership.”

With artificial intelligence reshaping content creation and audience engagement, Ridding believes the time is right for fresh leadership to guide FT into its next chapter.

 

A Legacy That Will Endure

Nikkei’s chairman, Naotoshi Okada, praised Ridding’s contributions, calling him “an exceptional CEO” who led FT through a period of unprecedented transformation. Since Nikkei’s acquisition of FT from Pearson in 2015, Okada has worked closely with Ridding and commended his vision, strategic foresight, and unwavering commitment to the brand.

Even after stepping down, Ridding’s presence will still be felt. By remaining as an adviser, he will continue to share his expertise in digital innovation and international expansion, ensuring FT maintains its leadership in the evolving global media landscape.

As FT prepares for a new chapter, Ridding leaves behind a legacy of resilience, innovation, and growth—a testament to his leadership in one of the most transformative periods in journalism history.