Ashley Highfield, the chief executive of Johnston Press, has resigned, citing family reasons.
Stating that he will take up non-exec roles in the future, Highfield (pictured right), who has been in the job for seven years, has agreed with the board to not put himself up for re-election at the next annual general meeting in June.
Chief financial officer David King will replace Highfield when he departs in the summer.
Johnston Press publishes the i newspaper, The Scotsman and The Yorkshire Post, as well as more than 150 paid-for weekly titles and 37 free newspapers.
“I have been privileged to lead Johnston Press during a period of unprecedented turbulence in our industry,” Highfield said.[advert position=”left”]
“Since 2011 we have grown our overall audience in particular our digital business, created an industry leading tele-sales operation and maintained margins. The acquisition of the i newspaper has been a particular highlight. I am proud of what the board and my colleagues have achieved and would like to thank them all for their support. I wish David every success in his new role.”
Camilla Rhodes, chairman of Johnston Press, thanked Highfield for his “significant contribution” to the publisher since becoming CEO in 2011.
“We are sorry that he felt that his personal circumstances required a change at this time,” she said.
“Ashley oversaw the successful acquisition of the i newspaper, has driven growth in our digital footprint, while making substantial progress in reorganising and restructuring our business.”
Last month, the publisher reported an almost 10 per cent fall in annual revenues. However, the performance of the i newspaper continues to be strong with revenues up 21% year-on-year in Q1 2018.
Following the news of Highfield’s resignation on Tuesday morning, Johnston’s share price rose by 7.5%.
King’s replacement will be announced in due course.
