Future plc shares bombed more than 15% on Friday after the Marie Claire publisher’s chief executive Jon Steinberg announced his departure.
Steinberg will remain with the FTSE 250-listed company for 12 months until a replacement can be found.
Future chair Richard Huntingford praised Steinberg’s “significant contribution” to the business.
He said: “Whilst we are disappointed that he will be departing next year, we respect Jon's decision to return to the US.
“The Growth Acceleration Strategy he has implemented is well underway and, as highlighted by the pre-close update announced in September, continues to drive good strategic and financial progress.
“We will continue to work closely with Jon over the course of his notice period as we look to appoint his successor."
Shares dropped to 832p on Friday.