Highfield resigns from Johnston Press
Highfield resigns from Johnston press citing family reasons. He will be replaced by chief financial officer David King.
I have been privileged to lead Johnston Press during a period of unprecedented turbulence in our industry. Since 2011 we have grown our overall audience, in particular our digital business, created an industry leading telesales operation and maintained margins. The acquisition of the i newspaper has been a particular highlight. I am proud of what the board and my colleagues have achieved and would like to thank them all for their support.
Johnston Press Chair, Rhodes:
We are sorry that he felt that his personal circumstances required a change at this time. We wish him every success in the next phase of his career. Ashley oversaw the successful acquisition of the i newspaper, has driven growth in our digital footprint, while making substantial progress in reorganising and restructuring our business. We wish him every success in the next phase of his career.
Appointed CEO of Johnston Press
Highfield is appointed CEO of Johnston Press. He will start on November 1. He will be given a £500,000 “golden hello” share package, in a compensation package that is biased towards equity. The publisher currently has only about 7% of total revenues from digital sources, and it is struggling with a huge debt burden and tough advertising market. Chairman Russell:
His combined online and media sector pedigree will be a major strength in enabling us to grow our business again. On behalf of the board I would also like to thank John for his major contribution to the company and wish him well for the future.