Importance Score: 25 / 100 🔵
Reach PLC CEO Resigns to Lead The Jockey Club
In a leadership transition within the media sector, Jim Mullen has stepped down from his role as chief executive officer of Reach PLC, the parent company of prominent national newspapers including the Daily Express, Daily Mirror, and Daily Star. His departure comes as he prepares to take the helm at The Jockey Club, a leading horse racing organization.
Departure from Reach PLC
Mr. Mullen concluded his six-year tenure at Reach PLC yesterday. The media group confirmed that his exit was a ‘mutual agreement’ as he transitions to lead the prestigious horse racing institution.
New Leadership at Reach
Piers North, currently serving as Reach’s chief revenue officer, will succeed Mr. Mullen as CEO, according to a company spokesperson. Mr. Mullen, formerly the head of Ladbrokes Coral, will assist with the handover process before officially joining The Jockey Club on June 1st.
Market Reaction
Following the announcement of the CEO change, Reach PLC experienced a decline in investor confidence, with company shares dropping by 6.1 percent.
Former Reach PLC Chief Executive, Jim Mullen, departs after six years at the helm. Reach owns the Daily Express, Daily Mirror and Daily Star.
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