Mirror Group’s embattled chief executive, David Montgomery, has resigned from the company this morning as expected (see Montgomery Expected To Step Down From Mirror Group). Montgomery has stepped down with immediate effect following the breakdown of takeover talks with Trinity International and the rejection of second bid from Regional Independent Media (RIM) (see Mirror Group Rejects £913m RIM Bid).
Montgomery described his departure as an “opportune time to make this decision as the group now seems likely to have an independent future.” He has conflicted with Mirror’s non-executive chairman, Sir Victor Blank, over the direction of the negotiations and was seen by Trinity and Mirror’s majority shareholder, Phillips & Drew Fund Management, as the main obstacle to the talks.
More details on the developments will appear on Newsline as they become available.
Mirror Group: 0171 293 3000
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