Helen Alexander, the outgoing chief executive of The Economist Group, once remarked that the two best bits of business advice she has ever been given are “Live near where you work” and “Trust yourself”.

Perhaps it is not the profound insight into global business best practice that one might expect from the publishing veteran of The Economist, the respected business weekly read by decision-makers and opinion leaders, but it clearly has worked for Ms Alexander.

The 51-year-old, who announced yesterday that she would step down after 23 years’ service, has been pivotal in almost doubling the circulation of The Economist to nearly 1.3 million. When she joined the company, it was 264,000. The group’s figures are also healthy. In the six months to September 30, 2007, The Economist Group lifted operating profits 25 per cent to £20.8 million. Revenue rose 4 per cent to £124.6 million.

Ms Alexander’s most noteworthy achievement has. perhaps, been in internationalising group, taking it into markets such as India and China, as well as expanding CFO, a publication for senior financial executives, which has US, Asian, European, Russian, Chinese and Indian editions.

Her instinct for global growth owes much to her time running international circulation before becoming managing director of the Economist Intelligence Unit. She became chief executive of the group in 1997.

Sources close to Ms Alexander said that her departure has nothing to do with the fact that Dame Marjorie Scardino, chief executive of Pearson, shows no sign of leaving her post, for which Ms Alexander has been seen as a possible successor. Through the Financial Times Ltd, Pearson owns half of The Economist Group. Ms Alexander said: “The temptation would be to stay too long, but it’s the right time for me to move on.”

After grooming her successor — Andrew Rashbass, managing director of The Economist for three years — Ms Alexander will leave on July 15 to become an adviser to Bain Capital, the private equity group. She is also seeking non-executive roles to add to those she has with Centrica and Rolls-Royce, it is understood.

Ms Alexander is chairman of the PPA, the magazine industry trade association and a governor of her old school, St Paul’s Girls’ School.

An Oxford graduate, with an MBA from Insead, she was appointed CBE for services to publishing in 2004.

And the worst piece of business advice she has had? It is, she says, “probably something like ‘Don’t worry, it doesn’t matter’ ”.

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