GCap Media plc today announces changes to the structure of the Executive Board which will see current Executive Chairman, Ralph Bernard appointed as Chief Executive.
David Mansfield, who has held this position within the new company since its formation in May, will step down as Chief Executive but will remain with the company until January 2006 to oversee the final stages of the post merger integration, which he has been leading.
The role of Executive Chairman will no longer exist and Peter Cawdron has been re-appointed Non Executive Chairman, a position he held before the merger.
Commenting on the announcement, Peter Cawdron said:
‘Having two senior executives made a lot of sense in the months following the merger. However, with the early integration nearing completion and the Group’s strategy review well under way, both David and Ralph felt that the time was right to review this structure and together agreed this way forward.’
‘I would like to thank David for his commitment to the company as Chief Executive of GCap Media and formerly his eight years as Chief Executive of Capital Radio plc.’
The company will release a trading update as scheduled on 28 September.