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HMV's Simon Fox named Trinity Mirror CEO

Trinity Mirror has announced the appointment of HMV's chief executive Simon Fox as the successor to Sly Bailey following her recent departure.

Fox will take up the role of chief executive from 10 September.

He had headed up the ailing high street retailer HMV since 2006.

David Grigson, chairman of Trinity Mirror plc, commented: “Simon will provide the strategic leadership the company needs. His experience gives him a current and in-depth understanding of how consumers’ habits are changing and the technology that is driving these changes. He is a great team player and leader and his skills and experience perfectly complement those of the existing executive team.”

Fox added: "I am delighted to be joining the Trinity Mirror team. I have been enormously impressed by the people I have met so far and look forward to starting shortly. Whilst the Group’s current financial performance is robust, we will need to continue to evolve the business to meet the changing needs of our customers.”

He will be paid a base sum of £500,000 a year, with a potential 75 per cent bonus.