Sly Bailey to step down from Trinity Mirror by end of 2012

Chief executive of Trinity Mirror Sly Bailey is to step down from her role at the end of the year, it was confirmed today, after nearly 10 years. According to a statement from the company, which publishes national titles including the Mirror and the People, Bailey gave her notice to the Board today "and is expected to leave at the end of the year". Bailey joined the company in 2003. In a statement Trinity Mirror said "the actions she has taken, together with her team, have ensured the company has consistently delivered robust profits". The company added she has "also established the basis of a digital strategy for the group going forward." Quoted in the company statement Bailey said: "For the past ten years I have had the privilege of being CEO of Trinity Mirror Plc, a fascinating and all consuming role. Newspapers are a business like no other. "Now I feel the time has come to hand over to someone else to take up the challenge and for me to seek new challenges and opportunities elsewhere. "My immediate priority is to continue to run the business, to deliver the best possible performance for 2012." Chairman Sir Ian Gibson added: "The company and the Board are grateful to Sly for her immense contribution and leadership over an extended period and wish her well for the future." In its end-of-year results for 2011 Trinity Mirror reported a drop in total group revenue of two per cent to £746.6 million, while operating profit fell 15 per cent to £104.5 million due to increasing newsprint prices.