Murdoch MacLennan, one of he known figures in the publishing circle is quitting the Daily and Sunday Telegraph after being in the helm of Chief Executive for 13 years.He will be replaced by Nick Hugh, the former European vice-president at Yahoo who was hired by TMG in October,2016.
MacLennan would be taking over the role of Deputy Chairman. Hugh who is widely regarded for his role in the company has been elevated to a much bigger position – the post which was created recently.
“I am immensely proud of everything we have achieved at the Telegraph, and honoured to become deputy chairman of the group,” said MacLennan. He added further “I look forward to representing the Telegraph on a number of national and international organisations fighting for press and commercial freedom.”
Commenting on the appointment, “I am delighted that Nick Hugh is to become chief executive,” said Aidan Barclay, the chairman of TMG. “He has the ideal background and track record to build on the successful business we run today and I’m very optimistic about our future.”
The Telegraph made pre-tax profits of £47m in 2015 on revenues of £319m.
By restructuring the commercial arm of the business, MacLennan is credited in driving the brand towards advertising, commerce and events, said the statement from TMG.