Macleod named Post­media CEO, God­frey takes on new role

Simcoe Reformer - - NATIONAL NEWS - Vic­tor Ferreira

Post­media Net­work Canada Corp. on Thursday an­nounced that An­drew Macleod has been named the com­pany’s new chief ex­ec­u­tive of­fi­cer, part of a suc­ces­sion plan that will see long­time chief ex­ec­u­tive Paul God­frey re­main with the com­pany as ex­ec­u­tive chair­man.

Macleod joined Post­media in 2014 as chief com­mer­cial of­fi­cer. In 2016, he was named chief op­er­at­ing of­fi­cer and one year later took over the role of pres­i­dent from God­frey.

In an interview, Macleod said he and God­frey had been dis­cussing the move for some time and that it is part of an “on­go­ing grace­ful tran­si­tion.” In the past three years, the two have de­vel­oped an “enor­mously close” re­la­tion­ship, Macleod said.

God­frey, who spent more than eight years at the helm of Post­media, said the move was an “ob­vi­ous” one to make and would “re­ju­ve­nate” the com­pany.

“( An­drew is) tal­ented. He de­serves the ti­tle. He’s per­formed. He’s grown dig­i­tal ad­ver­tis­ing dou­ble dig­its for the last eight quar­ters. There’s no­body in Canada and very few in the U. S. that have per­formed like that,” God­frey said.

The move was an­nounced on the same day Post­media re­leased its first- quar­ter earn­ings.

The com­pany posted its eighth con­sec­u­tive quar­ter of dou­bledigit growth in dig­i­tal ad­ver­tis­ing rev­enue, which in­creased by 10.1 per cent in three months ending on Nov. 30, 2018.

The gains in dig­i­tal, how­ever, were not enough to off­set losses in print ad­ver­tis­ing, as to­tal rev­enue dropped to $ 171.3 mil­lion as com­pared to $ 189 mil­lion dur­ing the same three months in 2017.

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