Telegraph Bosses Jump Ship As Barclays Plot New Course
Two top ranking executives at the Telegraph Group have resigned, marking the first casualties of management restructuring at the company, which is now under the control of the Barclay brothers.
Managing director Hugo Drayton and finance director Niamh O’Donnell-Keenan gave up their positions with the company yesterday, but a spokeswoman for the Telegraph Group refused to comment on whether they will be replaced.
The high-profile departures follow the appointment of John Allwood as the company’s executive director last week, with speculation already rife that both director’s former roles will now be assumed by Allwood (see Telegraph Group Appoints Allwood As Executive Director).
It is certainly the case that Allwood comes from a background of financial management and has considerable experience in the media. These attributes have led some to conclude that he will be used to replace both Drayton and O’Donnell-Keenan, who are understood to have been unaware of his appointment until the last minute.
The management reshuffles hint at wide-reaching internal changes at the Telegraph Group, with rumours of more upheaval to come. Earlier this year the company poached Murdoch MacLennan, managing director of Associated Newspapers, to become its new chief executive and it is understood that he plans further management changes before tackling editorial issues at the Daily and Sunday Telegraph (see Telegraph Raids Rival Associated For New Chief Executive).
A concerted effort to revamp the newspaper’s management is clearly underway, with both Telegraph titles eager to increase their market share. Both the Daily Telegraph and its Sunday sister title have seen their circulations slip in recent months, losing 1.2% and 1.3% respectively year on year in the six months to August.
Telegraph Group: 020 7538 5000 www.telegraph.co.uk
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