The Evening Standard is present process its second change of management within the house of eight months with the upcoming exit of Rich Mead, its interim boss.
Sky News understands Mr Mead, who was appointed to run the London newspaper’s industrial operations after Charles Yardley’s departure earlier this 12 months, is to go away the corporate.
The freesheet, which noticed its day by day distribution fall under 300,000 in October for the primary time because it scrapped its cowl worth in 2009, stays certainly one of Britain’s best-known media manufacturers.
It is majority-owned by Lord Lebedev, the Russian-born media tycoon.
Mr Mead has additionally served because the Evening Standard’s chief working officer and chief monetary officer since November 2020.
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Prior to that, he was the group operations director for ESI Media, the holding firm for each the Standard and The Independent, which is now a digital-only information model.
The Evening Standard is chaired by Paul Kanareck, a former Guardian government.
In August, the Financial Times reported Lord Lebedev had offered extra loans to the newspaper, having purchased it 14 years in the past for £1.
The Evening Standard is loss-making, though The Independent made a small revenue final 12 months.
A spokesman for the Evening Standard declined to touch upon Mr Mead’s employment standing.
Source: information.sky.com”