Scottish Media Group has announced the appointment of Chris Masters, a former oil and manufacturing boss, as its new non-executive chairman following the departure of Don Cruickshank earlier this year.
Masters joins SMG with no direct media experience, but has held senior positions with several high-profile companies, most recently as non-executive chairman of heating unit suppliers Aggreko Plc.
He is also currently senior independent non-executive director of John Wood Group plc and a non-executive director of British Assets Trust plc, Alliance Trust plc and The Second Alliance Trust plc.
Commenting on the appointment current chairman, Don Cruickshank, said: “Chris’ plc credentials are very strong indeed. He brings boardroom experience, strategic focus and a business profile and he will undoubtedly further strengthen SMG’s already experienced Board.”
Masters added: “SMG has undergone some major changes over the last few years and is now well positioned to deliver real growth in shareholder value. I am delighted to be joining the Company at such an exciting time in its development.”
The new chairman will take up his post following today’s annual and extraordinary general meetings when Don Cruickshank will step down, as announced in January.
Earlier this year SMG predicted a increase in the speed of advertising recovery but simultaneously published poorer than expected profits for the full year 2003. The group claimed that the lacklustre figures marked the conclusion of one of the toughest episodes in the history of the UK advertising market.
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