Hollinger Appoints Colson As Chief Operating Officer
Dan Colson, vice chairman of Hollinger International, has been appointed chief operating officer of the group, following Lord Black’s decision to step down.
The new position will see Colson assume wider responsibilities for the group’s overall operations, as well as continuing as chief executive of the Telegraph Group.
Hollinger, which publishes the Daily and Sunday Telegraph, announced a wave of management departures this morning in the wake of a investigation by US regulators over its recent admission that it filed false statements to the Securities & Exchange Commission about executive pay (see Black To Step Down As Chief Executive Of Hollinger).
In an email to staff Colson wrote: “There has been much speculation about the future of the Telegraph Group and there will undoubtedly be much more in the coming months. Whatever the outcome of the deliberations involving Lazard, I would like to emphasise that we have a superb staff working for a successful and profitable company.”
Black’s dramatic departure and the appointment of investment bankers to evaluate a range of possible options for the group, has sent media commentators into overdrive over possible bidders for its flagship Telegraph titles.
Hollinger has muted a variety of possible options for the group including a complete sale of Hollinger International, a possible sale of one or more of its titles, or the recapitalisation of the company and its affiliates.
In his new position Colson will continue to work closely with the new Telegraph management team, which includes recently appointed managing director Hugo Drayton (see Telegraph Group Names Drayton As New Managing Director).
Hollinger International: www.hollinger.com
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