Britannica Consolidates Print and Web Operations

Posted on May 22, 2001

Last week Encyclopaedia Britannica, Inc. and Britannica.com Inc. announced the appointment of Ilan Yeshua to chief executive officer of both companies. He was previously CEO of Britannica Israel, Ltd., a wholly owned subsidiary of Britannica.com Inc. The companies also announced that the two Britannica companies, both wholly owned subsidiaries of Encyclopaedia Britannica Holding S.A., plan to move gradually toward an operational consolidation under Yeshua's leadership.

Britannica has also been looking closely at providing more fee-based content offerings, after struggling with its free online service. Britannica.com laid off 68 of its 219 employees, about one third of its staff in March of this year. The company also laid off 90 workers in November and December of 2000. Britannica.com made news when it announced it would offer its complete 32-volume encyclopedia set free online in October, 1999. Recently, World Book, a competitor to Britannnica, announced a free online edition of its volumes in a deal with AOL.

Yeshua, Britannica's new CEO, has over 20 years' experience in educational software and publishing. Before joining Britannica, he was deputy general director of the Tel Aviv-based Centre for Educational Technology (CET), an education technology firm in Isreal, divisions of which were acquired earlier this year by Britannica.com Inc. He also served as chief executive officer of the Centre for Educational Technology Holdings, a CET subsidiary. Yeshua holds a bachelor's degree with honors in medical science from Hebrew University.

In taking the reins of Britannica.com Inc., Yeshua succeeds Don Yannias, who will return to his previous career in investment management and remain on the company's board of directors. The CEO position at Encyclopaedia Britannica, Inc. was vacant.

In announcing Yeshua's appointment, Yannias said it reflects Britannica's renewed focus on reference, education and learning, the companies' long-standing strengths for more than two centuries. "In the coming months and years we will develop new products for the consumer, education, and institutional markets that provide high-quality information to people whenever and however they need it," he said. "Ilan's vast and varied experience in education and publishing make him ideally suited to lead this effort."

"My goal is to extend Britannica's presence in every market and every medium where we can provide value to our customers," said Yeshua. "While we will continue to work on the Internet as we have in recent years, we will pursue opportunities in other media as well while also using the Internet, print, CD-ROM and DVD in combination. To do this effectively, we will forge a closer working relationship between our two companies."



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