Trinity Mirror has announced that accountant David Grigson is to succeed Sir Ian Gibson as chairman from 3 August, 2012.

Grigson was formerly chief financial officer of Reuters Group and prior to that did the same job at Emap plc. He is currently chairman of Creston plc and a non executive director of Standard Life plc.

Gibson has been in the job for five and a half years during which time the Trinity share price has dropped from over £5 to a tenth that.