Telegraph Media Group (TMG) and its parent company, Press Acquisitions Limited, last week announced that Nick Hugh has stepped down as chief executive officer. Nick was appointed CEO in 2017 and has since overseen a period of transformation that the Group says resulted in its milestone achievement last year surpassing 1 million subscriptions and over 700k digital subscriptions.
Nick will be replaced by Anna Jones, who joined Telegraph Media Group as an advisor in January 2023 to support the executive leadership team with strategic projects, M&A and talent development initiatives. Anna’s prior experience includes several executive and non-executive roles in the media and consumer sectors and through a number of M&A transactions. Previous roles include CEO of Hearst UK between 2014 and 2017 as well as vice chair of the board of Universal Music Group.
Mike McTighe, chair of the board of Press Acquisitions Limited, said: “Nick Hugh has informed us of his decision to stand down as Chief Executive of TMG. During his tenure, the business has been successfully transformed to a subscriptions-first business achieving the goal of 1 million subscriptions in 2023 with profit levels increased five-fold since the launch of the strategy in 2018. Our thanks to Nick and best wishes for the future. I, and the Board of TMG, look forward to working with Anna and the whole of the management team as we look to secure a future for The Telegraph reflective of its rich history, vast opportunity and vital importance.”
Commenting on her appointment, Anna Jones said: “I am honoured to step into the CEO role at an important time for the Telegraph Media Group and its people. Having worked alongside the exceptional editorial and management teams over the past twelve months, I know The Telegraph to be an outstanding business and media brand of the highest quality. Although the business is operating in a period of uncertainty due to the change of ownership process, the titles continue to thrive and my role will focus on securing certainty for our staff, subscribers and partners.”Keep up-to-date with publishing news: sign up here for InPubWeekly, our free weekly e-newsletter.