Summit Business Media L.L.C. today announced that Andrew Goodenough has been named chief executive officer.
The CEO title previously was held by William Reilly. Reilly, a well-known business-to-business media investor, will continue to serve as chairman, in a non-executive capacity, and remains a major investor in Summit, New York.
Summit is now the owner of National Underwriter Life & Health, the NU Online News Service, and many other affiliated business publications.
Goodenough, 52, was named president of Summit in September 2007.
“Going into the formation of Summit in November 2006, my plan was to drive the initial growth of the business for several years as CEO, and then step back to the chairman role,” Reilly says. “I am delighted to be able to report that Summit, in less than 2 years, is off to a great start and has taken its place as a major B2B media company with more than 26 magazine titles, 150 reference books and electronic products and 100 live events. We’ve built a best-in-class management team led by Andy Goodenough, and I’m pleased to be able to step back to that chairman role sooner than expected and turn over the day-to-day executive reins to Andy and his team.”
“We are very pleased with Summit’s success to date and Andy’s role in leading us to this point,” says Jim TenBroek, managing director at Wind Point Partners, Summit’s largest investor. “We also have the utmost respect for Bill Reilly as a gifted manager and trusted friend in initiating this transition. We look forward to continue working with him as chairman and investor. Moving forward, Andy Goodenough and his strong management team are well positioned to take advantage of opportunities as they continue to implement Summit’s growth strategy.”
Summit Business Media was formed in November 2006 through Wind Point Partners’ acquisition of Highline Media L.L.C., New York, and Pfingsten Publishing L.L.C., Seven Hills, Ohio, in partnership with Reilly and the management of Highline Media.
Goodenough has been a senior B2B executive and entrepreneur for more than 30 years. He was president of USB Corp., New York, and publisher of U.S. Banker before its sale to Thomson S.A., Paris, in 1993, and then served as the president of Thomson’s Banking Publishing/Conferences Group. The group published and hosted more than 80 products and events including American Banker, U.S. Banker, Bank Technology News, National Mortgage News, Credit Union Journal and many others. Goodenough later created the business plan for a new financial services information company in 2002, secured equity funding from Spire Capital L.L.C., New York, in January 2003 and in October of that year, launched Highline Media and acquired The National Underwriter Company, Erlanger, Ky., now a core asset in Summit’s operations.
Highline Media was acquired as part of the formation of Summit in November 2006.
Goodenough is a graduate of Middlebury College and holds an MBA in finance and marketing from New York University.