Guardian Media Group has announced that chief executive Andrew Miller is to step down at the end of June after concluding a five year turnaround plan for the publisher.
This reorganisation of group activities prioritised digital media distribution, international ventures and a rethink of assets which raised more than £850m of long-term reserves to secure the financial and editorial independence of the Guardian.
In its most recent set of financial results the publisher reported a rise in revenues of 7 per cent to £210m, reducing operating losses by 27 per cent to £19.4m. Digital revenues also recorded an upward tick, increasing by 24 per cent to reach £70m.
Miller said: “Having achieved our strategy to streamline the Group, secure its financial future and set it on the path to digital success, I have decided that mid-2015 will be the right time for me to explore new opportunities and for a new editor and chief executive to take the company on the next big phase of the Guardian’s digital growth and international expansion. My successor will inherit a business with very strong commercial foundations in place.
“For me, it has been a privilege to help equip GMG for a sustainable financial future, securing the unique contribution made by the Guardian to national and international debate for many years to come.”