The head of Trinity Mirror’s regional newspapers is to step down as the publisher prepares to launch a review of its commercial strategy, headed up by its former chief operating officer.
Rachel Addison is expected to leave the regional publisher, which produces the Manchester Evening News, Liverpoool Echo, Bristol Post and national Mirror titles, by the end of the month.
Drafted in is Mark Hollinshead who will head up the commercial review through his new PR and strategy consultancy Hollicom. He left Trinity Mirror in 2015.
A source told Press Gazette Hollinshead has been given a four-month contract to carry out the review, during which time all managers will report to him.
The review is understood to be a response to the challenging economic climate facing the newspaper industry, which has seen the majority of new online advertising money flow to Facebook and Google while newsstand sales remain in general decline.
Addison’s departure follows Trinity Mirror’s buyout of Local World, where she worked as a senior executive, in late 2015 in a deal worth £220m.
In its full year financial results for 2016, Trinity Mirror failed to offset declining income from print with growing digital revenue.
The UK’s larget regional news publisher reported digital revenue up 12.8 per cent (on a like for like basis) but print revenue down 10.7 per cent and overall revenue down 8 per cent.
Total revenue and profits were boosted by the acquistion of Local World.
Group revenue grew from £593m to £713m and pre-tax profit grew from £109.6m to £137.5m.