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Title: Piers North Takes Charge at Reach as CEO Jim Mullen Steps Down Amid Company Restructuring
Content:
The media landscape in the UK is shifting dramatically as Reach plc, the publisher behind renowned titles such as the Daily Mirror and Manchester Evening News, announces a significant leadership change. Jim Mullen, who has served as CEO since August 2019, has stepped down from his role with immediate effect, making way for Piers North, the company's Chief Revenue Officer, to take the helm as the new CEO.
Mullen's departure comes as Reach grapples with restructuring and evolving its business model to meet the demands of a digital-first world. Under Mullen’s leadership, the company has faced significant challenges, including a decline in print revenues and increasing pressure to adapt its digital strategy. His tenure was marked by attempts to reshape Reach’s offerings, with mixed results, leading to criticisms over substantial job cuts coupled with executive bonuses.
Jim Mullen's Legacy
During his nearly six-year tenure, Mullen played a crucial role in navigating Reach through tumultuous waters, focusing on integrating digital journalism into a traditionally print-focused organization. As he transitions to a new role as Group Chief Executive of The Jockey Club starting June 1, 2025, Mullen expresses gratitude towards his colleagues, acknowledging their hard work and commitment to impactful journalism.
“I want to thank everyone at Reach for their hard work over these past nearly six years. Together we have put the business in a stronger position, resolving important historical issues and making real progress on our digital growth, while continuing to deliver impactful journalism,” Mullen stated in a recent communication[1][3].
Piers North has been appointed as the new CEO, effective immediately. Having joined Reach in 2014, he has extensive experience in digital strategy, having previously held senior roles at Yahoo! UK. His background as a digital journalist and strategist positions him well to lead the company through its next phase of growth, particularly as it seeks to bolster its digital offerings and address shifting consumer preferences.
In his first comments as CEO, North emphasized the importance of a strong journalistic foundation, stating, “It’s a huge honour to lead Reach as we continue to serve essential journalism to our audiences and to move forward with our digital evolution. I look forward to working even more closely with all of the talented colleagues I have already been fortunate enough to work with over my 10 years here”[1][4].
Reach plc recently reported its preliminary financial results for 2024, revealing mixed outcomes. Group sales saw a decline of 5.3%, totaling £538.6 million, while operating profits rose by 6% to £102.3 million. The print sector still constitutes the majority of its income, albeit with a significant drop in revenues by 7.3% to £406.7 million.
Despite these challenges, the company has made significant strides in its digital revenue growth, highlighting an ongoing shift toward online news consumption. As North takes over, he is expected to prioritize enhancing Reach's digital capabilities to stabilize the business as it adapts to these changes in the media landscape.
Mullen’s exit comes amid heightened scrutiny regarding executive compensation, particularly following reports of a £600,000 bonus awarded to him during a time when the company has faced layoffs and restructuring. This decision raised eyebrows and drew criticism, leading to calls for a reevaluation of executive pay in relation to employee treatment.
The current environment in the media industry underscores the necessity for adaptive leadership. As consumer behaviors change, and digital platforms continue to rise, companies like Reach must find leaders who can navigate these complexities while sustaining quality journalism.
With Piers North’s appointment, Reach plc is poised to reinforce its commitment to delivering quality journalism while fully embracing its digital transformation. Industry insiders are optimistic about the potential changes North may bring to the corporate strategy, particularly in aligning content creation and distribution with contemporary audience expectations.
Challenges Ahead:
Adapting to Digital Trends: The media industry is in constant flux, and North will need to address the rapid growth of digital platforms, ensuring Reach remains competitive in attracting online audiences.
Maintaining Revenue Streams: Balancing print and digital revenues will be crucial, as declining print sales threaten overall profitability.
Employee Morale: Rebuilding trust and morale among employees following Mullen's controversial compensation decisions will be essential for North to successfully lead the company.
Opportunities:
Digital Strategy Development: North’s extensive experience in digital strategy can help shape effective initiatives that align with current market trends.
Enhanced Audience Engagement: Targeting younger demographics through innovative content delivery methods can expand Reach's audience base and increase engagement.
Strengthening Brand Trust: By emphasizing quality journalism, Reach can solidify its reputation and attract a loyal readership in an increasingly skeptical media environment.
The transition in leadership at Reach marks a notable moment in the evolution of the UK media landscape. The appointment of Piers North as CEO, following Jim Mullen's departure, signals a renewed focus on adapting to modern challenges within the industry. As North embarks on this new chapter with Reach, the emphasis on digital transformation and quality journalism will play a pivotal role in shaping the company's future.
As the news unfolds, stakeholders and industry observers alike will be watching closely to see how North leads Reach through these promising yet challenging times.
