Boss of DMGT set to retire this year

THE BOSS of the Daily Mail and General Trust will retire this year after seven years at the helm, it was announced yesterday.

Martin Morgan, who joined the company in 1989, is due to step down at the end of 2016 which will allow time to appoint a successor.

Morgan joined at a time when DMGT, which owns the Daily Mail, Mail on Sunday and Mail Online, was diversifying beyond the newspaper industry into digital media. He became chief executive in 2008.

After stepping down from his role he will continue to serve in his post as non-executive director at Euromoney, in which DMGT holds a 68pc stake.

Lorna Tilbian, executive director and head of media at broker Numis, said Morgan has created ‘quite some legacy’.

After leaving Reed International in 1989, Tilbian said Morgan led DMGT to diversify its operations.

She said: ‘His strategy was investing in businesses in the first flush of growth. He was backing them early when great growth was still ahead of them. It created a very prominent market position.’

Chairman of DMGT, Lord Rothermere, said: ‘Martin will continue to provide strong leadership for the group, as he has done so successfully in the last seven years as chief executive. We have set strategic priorities for 2016 which will position the group to address the next phase of its development.’

Morgan said: ‘Since joining the group in 1989, I have seen significant change, particularly with the growth of our business-to-business operations, the development into a truly global company and the successful transition from print to digital.’

Shares in DMGT closed 3p higher at 703.5p.