Johnston Press chief executive John Fry (left) is to leave by March next year, the company announced today.
Johnston said in a statement: "John Fry, Chief Executive Officer, has notified the Board of his intention to step down from his role by March 2012, thereby providing sufficient time to facilitate a smooth handover to his successor. The process is now being started to find John's successor and a further announcement will be made at the appropriate time."
Fry joined Johnston Press from regional media publisher Archant in January 2009, succeeding Tim Bowdler.
Johnston Press in a preliminary statement for the year ended December 31, 2010, said operating profits were up from £69m to £72m, a 3.9 per cent rise. Johnston's first underlying operating profit increase (excluding acquisitions) since 2004. Pre-tax profit was down 29.6 per cent on the previous year to £30.5m, from £43.3m, and revenues were down six per cent to £398.1m, from £423.7m