Guardian media Group (GMG) has promoted an internal candidate to replace its chief executive Carolyn McCall, who moved to the budget airline easyJet last month.
Andrew Miller was previously chief financial officer of GMG, which publishes The Guardian and The Observer, and took over Ms McCall's duties on an interim basis after she left. He has been handed the task of finding a "sustainable future" for the group's journalism.
Amelia Fawcett, the chairman of GMG, said the company had carried out a rigorous selection process before deciding Mr Miller would be "ideal" for the role. She said: "He has the ability, desire and vision to lead GMG through the next stage of its development and to ensure a sustainable future for our journalism." Ms McCall announced her decision to quit shortly before unveiling pre-tax losses of £171m at the publishing company, after losing £96.5m the year before. The losses were put down to heavy write-downs in the value of its investment in publisher Emap and the GMG Radio business. Yet it emerged that Ms McCall received a remuneration package of £658,000, up from £498,000 the year before.
When asked about her appointment as the new chief executive of easyJet, the publishing tycoon Richard Desmond said: "I think she's a ridiculous appointment. This woman single-handedly ruined The Guardian. Ridiculous!"
Mr Miller was named GMG chief financial officer in August, after carrying out the equivalent role at Trader Media Group, the publisher jointly owned by GMG and private equity group Apax Partners.Reuse content