Magazine follows successful launch of site

Munich, Germany – May 19, 2010 – Last October, following the demise of CFO, Europe’s only existing magazine and website for CFOs, IDG Business Media rushed to fill the void with, a Web-based resource for German-speaking chief financial officers. With strong initial support from Oracle, which has been supplemented by other industry leaders including Microsoft, SAP, SAS and EMC, has enjoyed tremendous growth, with an online coverage increase by 600 percent in its first six months. The monthly growth rate is between 20 and 50 percent. At the same time, editors built strong relationships with a number of leading CFOs and financial organizations. The success of the site gave Business Media Publisher Michael Beilfuss and his team the fuel they needed to launch CFOworld magazine on March 29.“The point was to provide the market with a clear signal, to proclaim, ‘We’re here,’ and CFOworld magazine is the appropriate vehicle,” said Sebastian Wörle, head of sales at IDG Business Media Germany. “Print is still very important in the German market,” Wörle explained, “and thanks to strong support from Oracle, we were able to launch this publication.” “We will now work to capitalize on the wave of excitement triggered by this launch and sign other sponsors for future issues,” said Thomas Friedl, key account manager for CFOworld.

The CFOworld site and publication cater to a category of business professionals whose role is undergoing significant changes, said Sascha Alexander, the magazine’s editor. “CFOs are no longer merely financial controllers, but increasingly they are assuming responsibility for overall business strategy. What counts today is the ‘networked financial officer,’” Alexander said. “CFOs are going to transition into real advisors in their companies.”

The launch issue was sent directly to 17,000 qualified senior executives. An additional 3,000 copies were sent to media agencies, partners and the sponsor. IDG Germany sent complimentary copies of this first issue — all of which contained a subscription offer for future issues — to its target readership. CFOworld magazine will be published four times a year. The second issue will be released on June 14.