Nussbaum to succeed Kemp as Penton Media CEO

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Cleveland--Struggling Penton Media announced Monday the appointment of David B. Nussbaum as CEO.

Nussbaum, 46, will take over July 1 for Thomas L. Kemp, who announced his resignation in March.

Penton, which was said to be looking for both external and internal candidates to succeed Kemp, turned to an internal choice in Nussbaum, who is currently exec VP, with responsibility for the company's Technology & Lifestyle Media Division. That unit accounts for more than half of the company’s revenue and operating cash flow.

“David Nussbaum is a very capable operator,” said Scott Peters, managing director of Jordan, Edmiston Group. “He’s proven that he’s been able to do some pretty significant things at Penton.”

Penton COO Daniel Ramella, who was also considered a candidate to succeed Kemp, retains his title.

Additionally, Penton announced that its board has named Royce Yudkoff non-executive chairman. Yudkoff, 48, is a co-founder of ABRY Partners, which has invested heavily in Penton.

--Sean Callahan

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