Loggia named Advanstar CEO

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Boston--Advanstar Communications announced Thursday that Joseph Loggia, who has been president-COO of the company since 2001, will replace Robert Krakoff as CEO effective Jan. 1. Krakoff will remain chairman.

Loggia, 44, will have responsibility for day-to-day operations, while Krakoff, 68, will focus on acquisitions.

Industry observers said the move indicated that the privately held company, which is majority owned by DLJ Merchant Banking Partners III, a fund managed by Credit Suisse First Boston Private Equity, was preparing itself for a potential initial public offering. They also said it showed Advanstar remained on the acquisition trail.

One industry observer, who spoke on condition of anonymity, said the move pre-empts questions about Advanstar’s succession strategy. “It puts in place a younger face for the markets,” this observer said. In an interview, Krakoff said, “We’re setting up the long-term succession plan. Clearly, if you were a public investor, you’d want to know how this company views the future and not for a year or six months.”

Krakoff also said Advanstar, despite its recent $135 million acquisition of Medical Economics and other properties from Thomson, remains committed to growth. Sources confirmed, for instance, that shortly after its acquisition of Medical Economics, Advanstar was also a bidder in the recent auction for Cliggott Publishing and SCP Communications, properties that CMP Media eventually acquired.

--Sean Callahan

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