Shares in Marie Claire publisher Future plunge as chief announces departure

Future, one of Europe’s biggest and most successful digital media companies, has seen more than £300m wiped off its market value after the company said that chief executive Zillah Byng-Thorne is to step down after almost a decade.

Byng-Thorne, who has made more than £35mtransforming a magazine publisher facing collapse into a £1.7bn digital media empire, has told Future that she intends to step down by the end of the next year.

Shares in Future, which owns brands including Marie Claire, TechRadar, Country Life, Horse & Hound, Metal Hammer and the price comparison site GoCompare, plunged more than 16% on news of the 47-year-old’s intention to step down.