Newspaper magnate Jonathan Harmsworth, better known in Britain as Lord Rothermere, will become chief executive of the Daily Mail group after privatizing the publisher late last year.
Paul Zwillenberg announced he was stepping down as chief executive of the Daily Mail and General Trust (DMGT) after a six-year tenure during which the group took over the newspaper The I and New scientist Magazine.
Lord Rothermere, currently chairman of the Daily Mail and great-grandson of its founder, will take up his new role when Mr Zwillenberg leaves on September 30.
DMGT was delisted from the London Stock Exchange in December after its largest shareholder, the Rothermere family, was successful in its bid to take the group private.
Lord Rothermere said on Thursday that following its privatization the publisher is now “master of our own destiny”.
In a letter to staff, he said: “I am eternally grateful to Paul for everything he has done over the last six and a half years.
“DMGT’s needs are different than they used to be as the size of the group is now much smaller.”
Mr. Zwillenberg will remain as senior advisor to the Chairman while the company transitions to his new leadership.
He said in his own memo to the company that working closely with Lord Rothermere while leading the business at an important time was the greatest privilege of his career.
Mr. Zwillenberg returned to DMGT in 2016 “when the company needed a new direction,” he explained. He added that the group has changed from top to bottom during this time and that “the time has come to step down”.
In December, the company warned that the cost of newsprint had risen to levels not seen in 25 years, which was beginning to affect its profitability.
https://www.independent.ie/business/world/lord-rothermere-to-become-daily-mail-group-ceo-as-paul-zwillenberg-steps-down-42010841.html Lord Rothermere becomes CEO of the Daily Mail group as Paul Zwillenberg resigns