Prakash Iyer, CEO of Infomedia18 Ltd, is leaving the company. Iyer joined the BSE-listed magazine and directories publisher in August 2004, and was regional vice president at Pepsi China prior to that.

Infomedia is a B2B magazine publisher with titles such as Chip, Better Interiors, Overdrive and Better Photography.

Iyer declined to say where he was headed. “Watch this space,” he said, adding that he is going to continue at Infomedia till end-March. Network18 Group CEO Haresh Chawla declined comment, but said the group has not yet identified a replacement for Iyer. 

ContentSutra recently reported that Reed Business Information was exiting its joint venture with Infomedia. Iyer said talks are still on to figure out how the magazines under the JV can continue operations.

Infomedia recently went through a restructuring exercise and TV18 said in the Q309 investor update that the company will bring down operating costs by Rs20 crore in the next two quarters. Iyer confirmed that the restructuring has resulted in “involuntary attrition” of at least 300 jobs over the past few months.

TV18 is the majority stakeholder in Infomedia. In December 2007, TV18 acquired a controlling stake in Infomedia from an ICICI Venture-managed fund and followed it up with an open offer. Currently, TV18 holds 65.76% in Infomedia.