GMG appoints new CEO as McCall quits
GUARDIAN Media Group (GMG) has announced its chief financial officer will replace Carolyn McCall as chief executive of the struggling firm.
Andrew Miller was among the favourites to take the top job after McCall announced she would take up the role of chief executive at easyJet.
Amelia Fawcett, chair of GMG, said: “Andrew is the ideal appointment to this role, following a rigorous recruitment process that produced a very high-quality shortlist of candidates.
“He has great financial acumen, an intimate understanding of GMG’s portfolio and a full appreciation of our unique purpose and values.
“Most importantly, he has the ability, desire and vision to lead GMG through the next stage of its development and to ensure a sustainable future for our journalism.”
Miller said: “It is a great privilege and responsibility to lead Guardian Media Group and to play a key role in supporting the independence of our journalism. While the media sector faces continued change, to which we will need to adapt, our strong portfolio of businesses and investments means we have a solid base from which to move forward.”
He inherits a company struggling to plug yawning losses at its flagship Guardian newspaper.
Its latest results show GMG’s losses widening 77 per cent to £171m for the year.
The firm last year introduced a company-wide pay freeze after struggling to navigate
through turbulent economic waters. Turnover at the group fell to £280m from £310.9m the year before.