Trinity Mirror PLC
24 September 2002
24 September 2002
TRINITY MIRROR PLC
ANNOUNCEMENT RE: MANAGEMENT SUCCESSION
The Board of Trinity Mirror plc ('Trinity Mirror') today announces that Philip
Graf has informed the Board of his decision to step down as Chief Executive in
the summer of 2003. As a result of this, the Board has appointed a
subcommittee, to be chaired by Sir Victor Blank, to identify a suitable
successor from both internal and external candidates. A further announcement
will be made when a decision has been taken.
Philip Graf was appointed Chief Executive of Trinity Mirror in September 1999
following the merger of Trinity plc and Mirror Group plc. Since then, he has
developed and implemented a review and reorganisation of the Group's assets.
The regional strategy continues to deliver ahead of its targets, and the early
results from the new nationals strategy are encouraging. Prior to his role at
Trinity Mirror, Philip spent 15 years with Trinity plc, becoming Chief Executive
in 1993. During this time, he developed Trinity into one of the UK's most
successful regional newspaper publishers.
Sir Victor Blank, Chairman of Trinity Mirror plc commented:
'Philip is one of the UK's most respected and successful media executives. His
passion and understanding of the industry is unrivalled, and he has over the
past three years done a tremendous job in reorganising and developing Trinity
Mirror. His decision to inform the Board now gives us the opportunity to look
for a successor in an open and orderly manner.'
Philip Graf, Chief Executive of Trinity Mirror plc commented:
'After ten years as Chief Executive of initially Trinity and subsequently
Trinity Mirror, deciding to step down was tough. I feel however the foundations
we have laid have created a strong platform for growth and I feel that this
period of notice will enable an orderly succession to take place. In the
meantime, I shall continue enthusiastically to lead the team during what will be
a year of considerable progress for the business.'
Enquiries:
Sir Victor Blank, Chairman Trinity Mirror plc 020 7293 3461
Philip Graf, Chief Executive 020 7293 3209
Nick Fullagar, Corporate Communications 020 7293 3622
Rupert Younger Finsbury Group 020 7251 3801
James Leviton
This information is provided by RNS
The company news service from the London Stock Exchange
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