Trinity Mirror has announced that Sly Bailey is to step down as chief executive of the company at the end of the year.
In a statement released this afternoon Bailey said:
For the past ten years I have had the privilege of being CEO of Trinity Mirror Plc, a fascinating and all consuming role. Newspapers are a business like no other.
Now I feel the time has come to hand over to someone else to take up the challenge and for me to seek new challenges and opportunities elsewhere. My immediate priority is to continue to run the business, to deliver the best possible performance for 2012.