Telegraph hires its first female chief executive

THE Telegraph appointed its first female chief executive to navigate the turbulence of an attempted takeover by the United Arab Emirates.

Anna Jones, the former head of the UK arm of the magazine publisher Hearst, has stepped into the role with immediate effect. She had been working as an adviser to The Telegraph’s senior leaders for the past year.

Ms Jones, 48, has replaced Nick Hugh, chief executive of Telegraph Media Group (TMG) since 2017.

He informed the company’s independent directors, Stephen Welch and Boudewijn Wentink, that he was stepping down. The new leadership comes as The Telegraph awaits a decision from Lucy Frazer, the Culture Secretary, on whether an Abu Dhabi-backed takeover can go ahead amid fears for press freedom.

The company is currently overseen by Mr Welch and Mr Wentink, alongside Mike McTighe, the chairman of its parent company, after they were appointed last summer by Lloyds Banking Group.

Mr McTighe wished Mr Hugh the best and said: “I, and the board of TMG, look forward to working with Anna and the whole of the management team as we look to secure a future for The Telegraph reflective of its rich history, vast opportunity and vital importance.”

Ms Jones said: “Having worked alongside the exceptional editorial and management teams over the past 12 months, I know The Telegraph to be an outstanding business and media brand of the highest quality. Although the business is operating in a period of uncertainty due to the change of ownership process, the titles continue to thrive and my role will focus on securing certainty for our staff, subscribers and partners.”

In an email to staff yesterday, she added: “It is an honour to be able to lead you at this time and I want us to navigate any challenges that may lie ahead together.” Lloyds seized control of

The Telegraph and The Spectator magazine via receivers after the Barclay family failed to repay overdue borrowing of £1.2bn, which had been secured against the publications. The debt was settled in December with money mostly borrowed from the UAE, which aims to convert £600m of the lending into ownership of The Telegraph via RedBird IMI, its invest- ment fund based in the US.

The repayment meant ownership reverted to the Barclay family. However, the Government intervened to prevent them exercising any control and to keep the independent directors in place while The Telegraph’s fate is decided. It also imposed controls on any changes in management, meaning Ms Jones’s appointment has been approved by officials.

Ofcom is reviewing whether RedBird IMI’s plans are in the public interest.

However, the process has been delayed after the fund told officials this week it had created a new corporate structure under which it intended to own The Telegraph.

Ms Frazer, who criticised RedBird IMI for alerting the Government to the changes at a “very late stage”, launched a second investigation into the deal yesterday.

The move pushes back the deadline for Ofcom to report its findings by more than six weeks to March 11.

The independent directors highlighted The Telegraph’s success under Mr Hugh building a digital subscrip- tions business.

Last year it surpassed a target of 1m subscriptions on schedule, following the multimillion-pound acquisition of Chelsea Magazine Com- pany, which boosted the total. Mr Hugh, who was appointed by the Barclay family from a senior role at the internet business Yahoo, also restructured and focused The Telegraph’s business by outsourcing ad sales.

He said: “It has been an honour and a privilege to lead TMG over the last seven years and to have worked with so many brilliant people that have such an impact on society and democracy. I wish all of you the very best of luck in the future.”

Alongside her role at TMG, Ms Jones, who grew up in Yorkshire, is a non-executive director of Universal Music, the world’s largest record label.

With the entrepreneur Debbie Wosskow, she was also co-founder of AllBright, a women-only private members’ club. It was named after the former US secretary of state, Madeleine Albright.