Trinity Mirror boss to leave her role
SLY Bailey, chief executive of Trinity Mirror, yesterday announced she is stepping down and is expected to leave by the end of the year.
The move comes after the group, which publishes the 'Daily Mirror', 'Sunday Mirror' and 160 local and regional newspapers, prepares to face down a potential revolt over executive pay at its annual meeting next week.
Trinity Mirror's share price has plunged 90pc in the 10 years that Ms Bailey has been in charge as the newspaper industry battled declining print sales amid competition from the internet.
Ms Bailey said: "My immediate priority is to deliver the best possible performance for 2012."
The group was reported to be facing a shareholder rebellion over pay after the Association of British Insurers issued an 'amber-top alert' over Trinity's new bonus plan, urging investors to think hard before waving it through.
It has been reported that Ms Bailey has been paid almost £14m (€17.2m) since taking the helm in 2003.