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The Markets
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The Markets
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Media

Fox calls time at Reach as ex-Ladbroke CEO takes the reins

Now was an ideal time to hand over the reins, Fox said

Simon Fox is to stand down as chief executive of newspaper group Reach PLC (LON:RCH) after seven years in charge of the former Mirror group.

With the integration of the Express and Star complete, now was an ideal time to hand over the reins, Fox said.

Former Ladbroke Coral chief executive Jim Mullen is taking over.

Mullen spent was head of digital strategy at Sun and Times owner News International before joining the bookie.

He said he was looking forward to continuing the Reach’s digital transformation.

Last month, Reach confirmed it was in talks to buy some of the titles owned by the JPI Media – which owns the Scotsman and i newspaper.

Interim results showed flat revenues of £353mln and an 8% increase in profits at £69.9mln.

The dividend rose 5.5% to 2.5p.

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