Trinity MD eyes Sly Bailey job

MARK Hollinshead, the managing director of Trinity Mirror’s national newspaper division, has signalled an interest in taking over from outgoing chief executive Sly Bailey, sources have claimed.

Bailey announced she would leave the group in an effort to head off a share-holder revolt at last week’s annual general meeting over her £1.7 million pay package.

But her departure failed to stem the backlash, with the company’s remuneration report winning only 46 per cent of voter support.

Hollinshead was put in charge of the group’s flagship titles – including the Daily Mirror and the People – five years ago, adding to his responsibilities for the Daily Record and Sunday Mail.

In 2010, Hollinshead had been tipped to become chief executive of Mecom, a European publisher with 300 titles in Denmark, the Netherlands, Norway and Poland. Instead, Mecom chose Tom Toumazis, a former chief operating officer of Endemol Group.

Trinity Mirror finance director Vijay Vaghela is also thought to be a candidate to replace Bailey, although the company is expected to want to consider candidates with digital experience.

The group’s share price is 90 per cent lower than when Bailey took charge in 2003. The publisher’s chief executive will stand down at the end of the year.

Trinity Mirror’s titles north of the Border include the Ayrshire Post, Stirling Observer and West Lothian Courier.