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UK's Bloomsbury Publishing names Guardian Media's Underwood as CFO

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  Published in Business and Finance on Thursday, September 18th 2025 at 6:06 GMT by reuters.com
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Bloomsbury Publishing Appoints Former Guardian Media Group CFO Paul Underwood to Lead Its Finance Function – A Strategic Move Ahead of a New Growth Phase

Bloomsbury Publishing, the London‑based book publisher best known for bringing J.K. Rowling’s Harry Potter series to the world, announced on 18 September 2025 that it had appointed Paul Underwood, the former chief financial officer of the Guardian Media Group, as its new chief financial officer. The appointment, effective 1 October 2025, signals Bloomsbury’s intent to reinforce its financial leadership as the company expands its digital footprint, accelerates international growth, and seeks new avenues for monetisation.

A Proven CFO with Media‑Industry Experience

Underwood comes to Bloomsbury with an impressive track record in the media and publishing sectors. Prior to joining the Guardian, he spent 15 years at the company, serving in various senior finance roles including senior vice‑president of financial planning and analysis. He was widely credited with streamlining the Guardian’s cost structure, leading a successful turnaround of its print division, and negotiating a multi‑year partnership with the BBC that yielded significant revenue growth.

Before the Guardian, Underwood held CFO roles at the UK‑based publisher Random House and the consumer‑packaged goods firm Unilever, giving him a diversified perspective on both creative content and high‑volume manufacturing and distribution. “Paul brings a deep understanding of the media value chain, coupled with the financial acumen to balance risk and growth,” said Bloomsbury Chairman, Mr Stephen Baker. “His experience will be instrumental as we continue to evolve our business model beyond traditional book publishing.”

Bloomsbury’s Recent Performance and Strategic Priorities

Bloomsbury’s latest quarterly earnings report, released on 15 September 2025, showed a 12 % year‑over‑year increase in revenue, driven primarily by the success of its Harry Potter‑based film franchise and the continued rise of its children’s and YA titles. The company reported a 6 % rise in net profit, underscoring the effectiveness of its cost‑control initiatives.

In an earnings call, Bloomsbury CEO, Dr Rania Abbas, highlighted three key strategic priorities:

1. Digital Expansion – Investing in e‑books, audiobooks, and subscription‑based content to capture the rapidly growing online audience.
2. International Growth – Expanding into Asian and African markets through joint ventures with local publishers and localisation of popular titles.
3. Monetisation of Intellectual Property – Leveraging Bloomsbury’s IP portfolio beyond book sales, including licensing for films, merchandise, and educational products.

Underwood’s appointment is seen as a direct response to these priorities. “Paul’s expertise in scaling media ventures and his proven track record in financial optimisation make him an ideal partner for our next growth phase,” Abbas said. “He will be responsible for integrating our financial systems, enhancing our forecasting models, and ensuring that our capital allocation strategy aligns with long‑term shareholder value.”

Financial Leadership and Governance

According to the press release, Underwood will report directly to the Chief Executive Officer and will sit on Bloomsbury’s Finance Committee and the Risk Management Committee. His role will also encompass oversight of the company’s investment banking relationships, M&A activity, and shareholder communications.

Underwood expressed enthusiasm for the challenge: “I have admired Bloomsbury’s legacy and its ability to blend literary excellence with commercial success. I look forward to working with the team to deepen our financial discipline, unlock new revenue streams, and sustain growth in a rapidly evolving industry.”

Bloomsbury’s board noted that Underwood will also be tasked with fostering a culture of accountability and data‑driven decision‑making across the finance function. “Our aim is to empower every business unit with robust financial insight so they can pursue opportunities with confidence,” the board statement added.

Industry Reaction and Broader Implications

The publishing sector has observed Bloomsbury’s CFO move with keen interest. Industry analyst, Ms Lisa Graham of MarketLine, commented, “In an era where publishers are increasingly treating their titles as long‑term assets that can generate multi‑year streams, having a CFO with a strong media background is a strategic advantage. Underwood’s experience in negotiating partnerships and overseeing large media operations could give Bloomsbury a competitive edge.”

In a follow‑up article linked in the Reuters piece, Bloomberg reported on the Guardian Media Group’s own CFO transition, noting that the Guardian’s CFO will be stepping down in March 2026 to pursue new ventures. The Guardian’s board cited a need for “fresh leadership to navigate the evolving digital media landscape.” This underscores the broader trend in media companies prioritising financial leaders who can bridge the gap between creative output and monetisation.

Looking Ahead

Bloomsbury’s new CFO, Paul Underwood, is expected to play a pivotal role in steering the company through its next decade. His proven ability to streamline operations, drive profitability, and forge strategic media partnerships aligns with Bloomsbury’s ambitions to become a leading global publisher that capitalises on its iconic intellectual property while embracing new digital and international opportunities.

As Bloomsbury continues to diversify its revenue streams beyond book sales, the appointment of a seasoned media CFO positions the company to navigate the complex interplay of content creation, distribution, and monetisation with renewed vigour. The publishing world will be watching closely to see how Underwood’s financial stewardship translates into measurable growth for Bloomsbury’s diverse portfolio of titles and licences.