Cain To Leave Chief Executive Post At Carlton

Steven Cain is to step down from his post as chief executive of Carlton Communications, ahead of the proposed merger of the company with United News & Media (see Media Merger May Hit Regulatory Obstacles). Cain will leave the company at the end of January 2000, Carlton announced last night.

Cain’s position in a merged Carlton/UNM would be compromised as United chief executive, Clive Hollick, would also become chief executive officer of the new group. Carlton chairman, Michael Green, is to chair the £8 billion merged company.

Commenting on Cain’s departure, Green said: “Steven supported the merger right from the start and always recognised that in a genuine merger of equals with clear lines of responsibility there can only be one chief executive. We are all grateful for his contribution over the past year and wish him well for the future.”

Cain himself says: “The Carlton/United merger is the right move for both companies. I enjoyed playing a part in making it happen and will watch the new company’s progress with great interest.”

Carlton Communications: 0171 663 6363