Where Have All the Young Lads Gone?

Emap, the British publisher that jumped on the lad-mag bandwagon big time, is now suffering big time as their target audience -- young men with short attention spans -- migrates with increasing speed to the Web and other diversions. And, of course, as its advertisers follow.

As is the way in corporate life, someone had to pay, and someone has. Emap, which publishes FHM and Zoo, said today that chief executive Tom Moloney has agreed to leave the company, where he has worked since 1981. Chairman Alun Cathcart will fill in as C.E.O., at least for now. The company is looking for a permanent successor.

Cathcart was gentle as he shoved Moloney out the door into an uncertain future. "Tom has made a significant contribution to the company's development and leaves Emap positioned for growth in the new digital era," Cathcart said in a statement.

He hastened to add: "The board has a clear strategy which we will vigorously execute to deliver growth and value for our shareholders."

So far so good: Emap's shares rose nearly 6 percent after Moloney was handed his hat.

by Mark Stein