Richard Eyre has been appointed Non-Executive Deputy Chairman and Chairman designate at GCap Media. In November 2007 Richard will take over as Non-Executive Chairman from
Peter Cawdron, who will remain on the board as Deputy Chairman.
The news was announced this morning in a trading update, in which the company says they are set to increase revenues by 1% year on year for the last quarter and are expected to decline by around 3% for the year. Total revenue for the year is forecast to decrease approximately 9%.
[i]"Our advertising revenue performance has improved steadily over the last six
months and we expect to be ahead of the market for the last quarter of the
financial year."[/i]
Ralph Bernard, Chief Executive of GCap Media said 'Richard is someone I deeply
respect and admire. His wide experience covering advertising, radio, television, press and digital media will be a valuable addition to the Board. I am greatly looking forward to working with him.
'Peter Cawdron has been an excellent Chairman and we are delighted that he has
agreed to remain on the board.
'Although the market remains uncertain and visibility short-term, we are
encouraged that the Group has been showing an improving trend over the past six
months and that we are outperforming the radio advertising market for the first
time.
'We have a strong board and senior management team in place. Now, having
stabilised the business, we intend to focus on the excellent opportunities we
see in the digital world – particularly online.'
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