Trinity chief quits six months early

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Embattled Trinity Mirror chief executive Sly Bailey has left the newspaper group after her departure was brought forward by six months.

The publisher of the Daily Mirror and Sunday Mirror announced Ms Bailey was stepping down with immediate effect and said it was moving forward with the search for her replacement, with help from head-hunters Egon Zehnder International.

Ms Bailey’s earlier-than-planned departure follows the arrival on May 29 of chairman David Grigson, who replaced Sir Ian Gibson – a move that was also brought forward.

Trinity Mirror said group finance director Vijay Vaghela will take on the chief executive duties, working closely with Mr Grigson, until a permanent successor is appointed.

Mr Grigson said: “The company and the board are grateful to Sly for her immense contribution and leadership over nearly 10 years. Despite the deep economic downturn, the actions she has taken with her team have ensured the company has consistently delivered robust profits.”