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September 10 2010

09:00

Reuters: Newspaper chief Montgomery “forced out” of publishing group

Former News of the World editor David Montgomery has announced he will retire from Mecom the European publishing group he founded in 2000, after coming under pressure from shareholders to quit.

According to a report by Reuters current CEO Montgomery will leave the company – which owns more than 300 printed titles and 200 websites – in January in response to the concerns of shareholders who are “fed up with ongoing high debt levels and falling sales”.

Montgomery slashed costs and jobs as he sought to drive his local-newspaper businesses in the Netherlands, Denmark, Norway and Poland into the digital age in the face of the industry’s worst-ever recession.

In a statement on Mecom’s website confirming Montgomery’s move the chief executive was said to have the “complete confidence of the board”. It added that a search process will be conducted by the board to find his successor.Similar Posts:



April 15 2010

10:26

NEWSPAPERS: WE NEDD LESS BAD MANAGERS LIKE DAVID MONTGOMERY

montgromery415

The Guardian reports today about another “smart” newspaper manager:

David Montgomery, the chief executive of the European newspaper group Mecom, received a recession-busting 51% increase in his total remuneration package in 2009 to £874,000. Montgomery accepted a £290,000 bonus, despite Mecom posting a 28% fall in profits and laying off 850 staff last year, on top of a basic salary of £540,000.

We need batter managers.

Quite better.

Today more than ever.

Managing in good times is easy

Managing in bad times shows who is a good leader.

January 27 2010

12:12

Kristine Lowe: Time to support David Montgomery?

At the weekend, the Sunday Times reported that Mecom CEO David Montgomery faced an investor rebellion.

Kristine Lowe, who has followed the activities of Mecom (which owns 300 newspapers) since its early days, shares her thoughts on her blog, linking into content elsewhere.

“My hunch is that it’s [the rebellion] nothing to cheer for,” she says.

“[I]f we look at the objections against his leadership brought forth after last year’s revolt, and Mecom’s continuing poor stock market performance this year, it seems to me that the man who gained a reputation as such a brutal cost-cutter during his Mirror-days is simply not a brutal enough cost-cutter for the investors in question.

She also notes that örsen, the Danish financial daily, is reporting that Mecom shareholders are disappointed that share prices have not improved more.

Full post at this link…

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January 15 2010

12:44

MediaGuardian: Mecom pushes ahead with niche paid content

David Montgomery’s Mecom newspaper group will put niche, specific content at the heart of its plans to charge for news online.

Montgomery, who said he is confident that a carefully planned digital strategy could make up for the a predicted shortfall in print ad spend, said its new online paid content strategy would not focus on charging for general or international news.

Full story at this link…

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