MAM
Financial Times names Jon Slade as new CEO after two-decade leadership run
MUMBAI: The Financial Times has tapped its commercial whizz Jon Slade as the new chief executive, ending John Ridding’s mammoth 18-year stint at the helm of the prestigious pink paper.
Slade, who’s been flexing his muscles as chief commercial officer since 2014, will take the reins this summer after overseeing a whopping three-quarters -including global advertising, print circulation, consultancy and subscriptions – of the FT group’s annual revenue streams.
The 51-year-old commercial hotshot has pulled off the seemingly impossible – steering the FT’s advertising business back into growth while rival media outlets watched their numbers plummet faster than a lead balloon. Additionally, he has recently overseen the expansion of the group’s consulting business, FT Strategies.
“Jon has both the leadership skills and commercial acumen to take the FT Group to new heights,” gushed Japanese parent company Nikkei chairman & CEO Naotoshi Okada. The venerable paper is now one of the flashy titles under the Japanese media and financial information powerhouse.
Under Slade’s commercial stewardship, the FT has been raking in the cash, with revenue and readership figures climbing steadily over the past decade. The media powerhouse now boasts a global paying audience of 2.9 million, including 1.5 million subscribers who fork out for online and print content.
With AI sending shockwaves through the media landscape, Slade will be tasked with navigating the digital revolution’s next chapter. The savvy operator has already orchestrated a licensing deal with OpenAI, getting ahead of the game while other publishers were still scratching their heads.
“There has rarely been a more consequential period for professional news media,” Slade declared, clearly relishing the challenge of his promotion.
The London-based group reported a tidy £540 million in revenues last year, up from just over £500 million in 2023 – proof that quality journalism can still bring home the bacon even as the industry weathers seismic technological shifts.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
