21st Nov 2007 07:00
21st November 2007 Daily Mail and General Trust plc (`DMGT') Retirement of Chief Executive and Appointment of Successor
Charles Sinclair, Chief Executive of DMGT, has decided to retire from his role and from the Board of DMGT on 30 September 2008.
Lord Rothermere and the Board are pleased to announce the appointment of Martin Morgan to succeed him as Chief Executive. Martin is currently Managing Director of DMGT's business information division, DMG Information (DMGI).
Martin joined DMGT in 1989 from Reed International and has been the driving force behind the establishment of DMGI. The DMGI portfolio of companies now has sales of almost ‚£300 million and operating profits of over ‚£70 million.
He will step down as Managing Director of DMGI in mid 2008 prior to relocating from DMGT's Stamford, Connecticut base to take up his new role in London.
Lord Rothermere, Chairman of DMGT, commented:
"Charles has made an enormous contribution to the Group and I am sad that he has decided to stand down next year as Chief Executive after what will be 21 years in the role. Charles has overseen the development of DMGT into a leading international media group with profits increasing tenfold over the last two decades. I would like to thank him for his leadership of the Group and, on a personal note, for the trusted advice he has given me and my father over many years.
I am delighted that we have such an excellent internal successor in Martin. He has done an outstanding job over the last 10 years in growing DMGI and is very well suited to take on the task of overseeing the whole DMGT Group. His broad knowledge of business media, as well as his prior experience of consumer media, will serve him well. I look forward to working with him."
Enquiries:
Peter Williams, Finance Director, DMGT: 020-7938-6631
Andrew Honnor, Tulchan Communications: 020-7353-4200
Notes to Editors:
Biographical information on MM
Martin Morgan was born in the UK, but was brought up in South Africa. He was educated in South Africa and England, gaining a BA in Economics and Philosophy from the University of Witwatersrand and an MBA from the London Business School.
After completing his MBA, he joined Reed International, where he stayed until 1989. He held a number of managing directorships, including those of Reed's travel and medical interests, and moved to the United States.
He was recruited by DMGT to return to England and help the group's initiative to diversify beyond the newspaper industry. He initially ran DMGT's consumer magazine division and then created a new professional business information division, which became DMGI. Following a period of rapid growth in that division, coupled with an investment emphasis on the United States, he returned to that country to run DMGI from the US in 2000.
Martin is married with three children and lives in Greenwich, Connecticut. He enjoys sailing, tennis, golf and fishing.
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