Kelvin MacKenzie has been appointed as executive chairman to publishing company, Highbury House Communications, ending months of speculation about the former Sun editor’s plans for the future.
Last month MacKenzie bought 15,500,500 ordinary shares in Highbury, bringing his stake in the company to 19.82% and fuelling industry speculation of ambitions for a place on the board (see
Mackenzie Raises Highbury Stake To 20%).
Commenting on his appointment MacKenzie, said: “The company remains in a fragile state but at its heart are good titles and core profitability. I am hopeful we can build on this foundation.”
Simon Neathercoat, non-executive chairman of Highbury House is reported to be stepping down from the board with immediate effect, while Mark Simpson, the current chief executive officer, will step down “in due course”, Highbury House said.
The move, however, has uprooted the succession plan already agreed by Highbury’s board, with company currently on track to appoint Mike Frey to the chief executive role, promoting him from his existing role as managing director of Highbury Entertainment (see MacKenzie Purchases Holdings Of Almost 15% In Highbury).
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