 As chief executive, Reed delisted Reed Executive from the UK Stock Exchange in 2003, buying back the company for 140p per share, at a valuation of £62.6 million, an 18% premium to the previous day's closing price.Shares in Reed Executive rose 15% following the announcement.At the time, some financial commentators suggested that the Reed family were taking advantage of a lull in the firm's share price, in the wake of both a cyclical downturn and the controversy over Reed's decision to spin off Reed Health.