InvestmentNews CEO Simon Stilwell abruptly resigned “with immediate effect” as parent company Bonhill PLC delayed its latest earnings report, sending shares to a 52-week low. Stilwell, 53, had led Bonhill’s U.S. financial media acquisition since 2018, navigating the challenges of COVID-19 that devastated InvestmentNews’ live events business—the firm’s primary revenue source. Bonhill, which purchased InvestmentNews for $27.1 million, reported break-even EBITDA for 2021, down from prior profit expectations, while revenues and digital sales remained under pressure.
Leadership gaps, including vacant publisher and editor-in-chief positions, compounded operational struggles. The company has also faced client attrition, including a key event partnership lost to Informa Connect, and reduced advertising spending from U.S. financial advisory firms. Patrick Ponsford, Bonhill’s managing director, will oversee InvestmentNews while an executive search is underway, as the firm seeks to stabilize operations amid a challenging post-pandemic environment.