Tom Hempenstall is the former chief executive of Metal Bulletin. Two years ago the Master was Nigel Stapleton, one time chairman of Reed Elsevier. In two years’ time, subject to election, it looks set to be book publisher, Helen Esmonde.
“Publishing is a broad church, of course,” says Mr Hempenstall. “Some 29% of the Stationers’ Company described themselves as publishers when they joined the Livery. It will be interesting to update our records and find out how many are still in the business today.”
Mr Hempenstall was with Metal Bulletin plc for 39 years, joining from college and eventually becoming chief executive. In that role he took a company with a capitalisation of about £20m to its sale to Euromoney Institutional Investor plc for £223m, 12 years later in 2006.
But he was also responsible for changing the business model of the publishing house from a print format to providing high quality news and data via electronic delivery at premium subscription prices.
“The Stationers’ Company has been ahead of the game in its involvement in discussions about copyright and the protection of intellectual property in the digital era. The Company has even sponsored a PhD student researching in this field and we have many specialist copyright lawyers within the Livery who provide additional input. We have come full circle when you consider that the Stationers’ Company was originally responsible for the copyright of books in its earliest days. We have engaged in this digital copyright debate in a timely manner, ahead of decisions being made in Brussels and on the international scene,” says Mr Hempenstall.
“In legal, financial and STM markets there is a custom of paying premium subscriptions for quality edited information and here rapid delivery of commercially valuable information is at a premium so moving from a paper-based to a digital environment is an easier transition than for many other areas of publishing. Many are still battling with the bottom-line implications of a move to the digital environment and in many cases this has impacted their share price. The Stationers’ Company has put on some very valuable lectures and debates on digital publishing but of course we cannot offer members any ‘magic bullets’ to solve these challenges.”
As Master Mr Hempenstall will undoubtedly promote further discussion and debate and he certainly continues to encourage young people thinking of a career in publishing of all sorts and journalism in particular. He says there is the “opportunity to travel, investigate, write and communicate thoughts and analyses to a wide audience, a privilege and rewarding opportunity but one with responsibilities as well.”
Aside from publishing-specific interests the new Master will also foster ideas that were formulated in the Company’s Strategic Plan two years ago. His particular focus will be on three targets:
• An increase in the charitable support the company gives to a wide range of communities in need of support and help
• Moving forward with a new Stationers’ Academy, a school for the Company to partner and support within the Leigh Academies Trust
• To continue to maintain the 17th century hall and to move forward plans to improve disabled access and allow better use of the available space within the building
The year ahead will be busy but fun and Mr Hempenstall must undertake all this activity whilst retaining the non-executive Chairmanship of the Espresso Education Group which provides digital-based content to schools in the US, Sweden, Canada and the US. The brainchild of a former Blue Peter producer, its aim is to inspire primary school children to learn interactively and it is a service which now boasts over 11,000 modules which are being used in about 52% of British primary schools.
In rare moments of leisure, Mr Hempenstall is still an avid supporter of Worthing Rugby Club, Wasps and the England rugby squad and, as a latecomer to golf, he does still try to improve his play by fitting in the occasional round.
