Bloomsbury Publishing (BMY) has another knight of the realm on the board. Sir Richard Lambert - a former editor of the Financial Times and ex-head of the UK's Confederation for British Industry - has been appointed as non-executive chairman, following the retirement of Sir Anthony Salz.
IC TIP:
Buy
at
166p
Mr Lambert joins Bloomsbury's board at a time when the publishing industry is in a state of flux and companies are having to invest heavily in digitisation. Bloomsbury is no exception. Its Bloomsbury 2020 academia business absorbed £1.5m of cash in the year to February 2017 and helped to increase the group's digital resource revenue by 50 per cent to £3.9m.
