Sir Robert Phillis, chief executive of Guardian Media Group (GMG) has announced that he will be stepping down from the position in July, due to health reasons.
The chief executive will also retire from the Scott Trust, which owns GMG, but will remain on GMG’s board as a non-executive director.
Commenting on his retirement, Phillis said: “As my colleagues are already aware I was diagnosed with an early stage of bone marrow cancer last summer. Since that time I am pleased to report that my treatment has progressed well.”
He continued: “By relinquishing my full-time role as chief executive of the group, I will be able to concentrate on my non-executive responsibilities and create the time and opportunity to pursue other interests.
In August GMG group reported profits almost halving, dropping to £22.9 million from £43.8 million at the same point in 2004(see GMG Sees Profits Almost Halve).
Group turnover for GMG increased, by 18% however to £751.9 million for the period and total operating profit was shown to be up to £122.4 million from £84.5 million.
Elsewhere, the group’s radio division is performing extremely well, enjoying a healthy performance from its stations, despite the tough conditions in the current commercial radio market, showing revenues for the October to December quarter of 2005 to be up by 22% year on year (see GMG Radio Enjoys 22% Increase In Revenue).
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