London—United Business Media, the parent company of CMP Media, announced that CEO Clive Hollick plans to leave the company next May. Hollick said in a statement that UBM’s board plans to choose a successor by the end of this year. "I plan to leave United in May 2005 when I will be 60," Hollick said. "I have had the privilege of working for a great company with an outstanding management team. I look forward to moving on to new opportunities." Two key moves under Hollick’s watch were the company’s acquisition of CMP Media in 1999 and the sale of UBM’s TV properties, which gave the company significant cash on its balance sheet.