PAN MACMILLAN BOSS LEAVES

Macmillan managing director David North is leaving at the end of this week after eight years with the company. He remarks: "I leave the company in great strength coming off the back of a record sales year and a strong first quarter performance. Pan Macmillan is set for an exciting future and I wish them every success."

The company has quickly named former Penguin UK executive Anthony Forbes Watson as interim managing director, starting 1 May.

Macmillan ceo Annette Thomas he "will create a stable and smooth transition period until a permanent appointment is made."