IDG Announces New CEO
BOSTON, MA – SEPTEMBER 5, 2002 – International Data Group (IDG), the world's leading technology media company, today announced the appointment of Patrick Kenealy to the position of Chief Executive Officer, following the resignation of Kelly Conlin, President and CEO, IDG.
Patrick J. McGovern, Founder and Chairman of IDG, said "Pat Kenealy has had an outstanding 16-year career at IDG. He has the experience, qualifications, vision, and leadership to continue IDG's strong revenue and market share growth in the worldwide technology media industry."
"IDG has been a beneficiary of Kelly's talents and dedication as the company's head for the last eight years, overseeing IDG's operations in 80 countries, initiating many new projects, and growing our revenue and market share. I understand Kelly's desire to seek a new challenge, and I know we all wish him a great deal of success and appreciate his contributions to the company over a distinguished fourteen-year career here," said Patrick J. McGovern.
Pat Kenealy joined IDG in 1986 in Boston as the Founder and Publisher of Digital News, the leading newspaper for the VAX computer market. He then became the CEO of IDG's PC World Communications subsidiary in San Francisco, publisher of PC World magazine. During his tenure, PC World quadrupled revenues and profits to become the world's largest circulation PC publication, and PC World Communications launched numerous new publications and projects including Multimedia World, The WEB magazine, and PC World Online. He also ran IDG's PC World Global Product Support Center, which supports locally published PC Worlds in more than 60 countries.
Most recently, Pat Kenealy was the founding General Partner of IDG Ventures, a $560 million venture capital fund financed by IDG. Kenealy recruited the IDG Ventures teams in San Francisco, London, and Boston, and personally supervised the fund's liquidated investments in such successful companies as Andromedia, BabyCenter, FutureTense, Service Metrics, and Spinner.com. He achieved a 30 times return on capital from these investments. Kenealy will remain a general partner of IDG Ventures, located in San Francisco.
Pat Kenealy said, "In my 16 years at IDG, I have seen the flourishing of the minicomputer industry, the PC industry, the networking industry, and the Internet industry. And, IDG has become larger and more successful with each new innovation. As new industries like wireless networking, bioinformatics, home entertainment, and pervasive computing flourish in the years to come, IDG, as a debt-free, privately-held global company, is more ready than any other media company to flourish with them."
In taking on his new role, Kenealy confirmed his commitment to IDG's historically decentralized structure by saying, "IDG is more than anything else a 'federation of independent entrepreneurs,' each dedicated to serving his or her readers, advertisers, exhibitors, and clients, but all backed by a common set of corporate values and a love of the information technology industry. I am honored to work with business unit heads I know and trust, and predict great things from them in the exciting days ahead."
About International Data Group (IDG)
Headquartered in Boston, International Data Group (IDG) informs more people about information technology than any other company in the world and is the leading global provider of IT media, research, conferences and events. IDG publishes more than 300 newspapers and magazines in 85 countries, led by the Computerworld, InfoWorld, Macworld, Network World, PC World, and CIO global product lines. IDG offers online users the largest network of technology-specific sites around the world through IDG.net (www.idg.net), which comprises more than 330 websites in 70 countries. IDG is also a leading producer of 168 computer-related events in 35 countries, and research arm International Data Corporation (IDC) provides computer industry research and analysis through 51 offices in 43 countries worldwide. Company information is available at www.idg.com.