Newspaper publisher, Trinity Mirror, is to continue its search for a replacement chairman according to reports this morning, which claim P&O boss Sir John Parker has rejected the offer of replacing Sir Victor Blank at the head of the company.
Blank announced his intention to step down at the end of January, stating that the company’s annual general meeting in May would mark the end of his tenure as chairman (see
Trinity Chairman To Step Down).
This morning’s Financial Times now claims that Trinity’s timescale for appointing a new chairman is “narrowing,” with the company’s options including an offer of the position to Sir David Arculus, former chairman of O2, as the second candidate on their shortlist.
Earlier this month saw Trinity reveal a drop in turnover for the 52 weeks to January 1st 2006, dipping by 1.3% like for like to £1.12 billion after a slowdown in the UK economy reduced marketing spend (see Trinity Suffers 1.3% Drop In Turnover In 2005).
Despite this decline however, Trinity reported a year on year increase of 5.9% in pre-tax profits, reaching £290.9 million over the period.
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