Trinity Mirror, Britain's largest regional newspaper group and owner of three national titles including daily tabloid runner-up The Mirror, has appointed a new chief executive in the person of Sylvia Grice (40).
Ms Grice, a former ad sales executive, began her heady pole-vault up the career ladder to become IPC Magazines’ ad director and then its chief executive, metamorphosing en route into Sly Bailey. Following a management buyout in 1998, IPC was sold at the behest of its venture capital backers to AOL Time Warner, whose UK publishing activities Grice/Bailey now heads.
She will join Trinity in February, replacing incumbent ceo Philip Graf who announced his intention to step down earlier this year [WAMN: 26-Sep-02]. Bailey will reportedly receive a compensation package worth £750K ($1.17m; €1.17m) in her first year and £1 million in her second.
Insiders say she’ll earn every penny if she manages to turn round Trinity’s ailing trio of national titles: The Mirror, Sunday Mirror and The People – all wilting under fierce competition and falling circulations.
Data sourced from: Financial Times; additional content by WARC staff