Can Kjell Aamot lead Johnston Press to a better perspective?
Johnston Press plc, one of the U.K.’s leading regional media groups announced on July 20 the appointment of Kjell Aamot as non-executive director of the company with effect from Aug. 1.
Aamot, former CEO of Schibsted ASA “retired” in 2009. But the man who led the family-owned Schibsted business to a successful international multimedia company is very popular beyond the Scandinavian Borders.
He serves as a non-executive member of the board of 20 Minutes (a successful free daily newspaper in France) in which Schibsted has a 50 percent interest; he is also a non-executive member of the Board of PubliGroupe, a Swiss-based listed marketing and sales organization and if that was not enough for a retired man, Johnston Press is now on his plate.
His talent will be precious for Johnston Press, a company struggling with a debt of around $641.4 million (U.S.). The total group revenues plunged by almost 20 percent at $650 million (U.S.) last year (but its operating profit margin is still high at 17 percent).
Kjell Aamot’s new playground will consist of 18 daily newspapers, 253 weekly newspapers, a huge range of locally focused print publications and some 300 local websites.
“Kjell will bring an excellent track record in managing change in the media sector which will be of immense value to us,” said Ian Russell, chairman of Johnston Press.
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