Bloomsbury boss to step back after four decades at the top - but not for another five years

See more This is Money on Google - save us as a Preferred Source Updated: 06:24 EDT, 8 September 2026 Harry Potter publisher Bloomsbury has laid out plans for its founder to step down from the top job in 2031 after four decades leading the group.Boss Nigel Newton has become executive chairman, with aims to appoint a new chief executive in two years.He will step away from the day-to-day running of the group to become non-executive chairman in 2031, but will remain as executive chairman to ‘ensure a smooth and successful transition’ in the meantime. Newton co-founded Bloomsbury in 1986 and floated it on the London Stock Exchange in 1994. One of his earliest successes was acquiring the rights to JK Rowling’s first Harry Potter book after several publishers had rejected it. The co-founder of Harry Potter publisher Bloomsbury will step down in 2031 The group said that the five-year plan ‘ensures the company will continue to benefit from Nigel’s unmatched experience, entrepreneurial vision and deep industry knowledge.’Shares in Bloomsbury fell 2.71 per cent, or 17p, to 611p.Current chair John Bason becomes deputy chairman to make way for Newton and will lead the search for a new chief executive.He said: ‘The transition announced today represents the board of Bloomsbury proactively addressing succession planning.‘Nigel’s continued leadership over the medium term will ensure continuity of Bloomsbury as a leading independent publisher.’Sales at the publishing group have in recent years been boosted by fantasy author Sarah J Maas, amid the ‘romantasy’ boom driven by TikTok. It also expects the launch of HBO’s Harry Potter series to boost sales of Harry Potter this year.Its succession plan comes as Bloomsbury deals with the impact of artificial intelligence on the industry, having struck licensing partnerships with companies such as Google and moved into academic and professional publishing.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you