Tortoise Media has appointed two co-CEOs to lead the business following its acquisition of The Observer.
The two co-CEOs represent both sides of the acquisition: Emma Sullivan helped to lead the deal as Tortoise managing director, and Richard Furness was chief strategy and business development officer at Guardian Media Group.
James Harding, Tortoise founder and editor-in-chief, said: “Establishing The Observer as an independent company is a once in a generation opportunity. It’s great news that Rich and Emma will bring their combined experience and expertise, integrity and judgment, passion and ambition for The Observer as we set out to make a success of it.”
Tortoise has also appointed Basia Cummings, who has been leading its audio arm Tortoise Studios, as digital editor of the new daily online paywalled version of The Observer.
Former Observer deputy editor Lucy Rock was previously named print editor of the Sunday title.
In addition Tortoise news editor and former Telegraph foreign editor Jess Winch has been named managing editor.
Tortoise said the editorial appointments were the first in its £25m investment in The Observer with more to follow in the coming weeks.
It has set out plans to build The Observer’s own foreign, business and sports reporting desks away from its previous shared set-up with The Guardian.
Tortoise said more appointments will also come in the business leadership team to help it establish online and build subscriptions and advertising revenue.
Co-CEO Sullivan said they are investing in “its future as an independent print and digital subscription business” while Furness described the plans as “a unique opportunity to renew and reimagine it for the future”.
Sullivan has been at Tortoise Media since its launch in 2018 and as managing director in the past two years she was responsible for people, editorial complaints and product innovation. Tortoise said she has set it on the path to profitability, although it is not yet profitable. In 2023, the latest figures available, it made a loss of £2.9m.
Furness has worked at Guardian Media Group for 27 years with his previous roles including managing director of publishing and consumer revenues, director of brand, engagement and marketing, and publishing director.
Also on Tuesday The Guardian announced it promoted chief advertising officer Imogen Fox to global chief advertising officer, taking on commercial responsibility for the international ad business and working with teams in the US and Australia.
Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog
