Olivier Burlot has relinquished his role as managing director of Blu Inc Media Hong Kong to pursue a new project in early 2011.
Burlot will continue to serve with the group as a consultant until 31 December.
Foong Seong Khong, business development and international licensing director of SPH Magazines, will assume the role of acting managing director of Blu Inc Media Hong Kong until a new candidate is found.
Burlot was unable to announce his next move, but said he will remain in Hong Kong.
“It’s good for me to look at new projects, I’m a born entrepreneur,” he told Marketing.
He said Blu Inc was a great partner and described them as one of the fastest growing luxury publishing companies. Blu Inc, a wholly-owned subsidiary of Singapore Press Holdings, paid US$16 million for the luxury magazine group in December 2007.
The company last week acquired a 34% stake in the Luxury Insider Group – publisher of luxury web and print titles across China.
Loh Yew Seng, CEO of SPH Magazines, said under his leadership, Blu Inc Media Hong Kong became the key player in the luxury publishing business in the region that it is today.
Foong and Loh will oversee the daily operations of the company, assisted by Eve Ng, general manager of Blu Inc Media Hong Kong.
“We regretfully accept his decision to pursue his personal interests after 31 December 2010, and wish him all the best for his future endeavours,” Loh said via a statement. “We will continue to strengthen our luxury titles and bring the company to greater heights.”
Burlot added that the company’s publications have become the leading luxury titles across the region.
“Given the passion and dedication of the team, I am confident that Blu Inc Media Hong Kong will continue to thrive and grow.”
The group’s luxury titles include Asia Spa, Asia-Pacific Boating, Jet Asia-Pacific and Action Asia.