Guardian Media Group announces change of finance director
Friday, April 24, 2009
Guardian Media Group plc (‘GMG’) today announces that Nick Castro is to retire as group finance director.
Nick, who is taking retirement in the autumn, will be succeeded by Andrew Miller, currently chief finance officer of Trader Media Group (‘TMG’).
TMG, which publishes the Auto Trader website and magazine, is jointly owned by GMG and Apax Partners.
Nick has been with GMG for 11 years, during which time the group has enjoyed considerable financial success and undertaken a number of major transactions. These include the sale of 49.9% of TMG to Apax Partners in a deal which valued the Auto Trader publisher at £1.35 billion, and the joint acquisition of Emap.
Andrew Miller joined TMG in 2002 as group financial controller and was responsible for supporting the full acquisition of the company by GMG. He was appointed to the board of TMG as chief finance officer in 2004, and played a major role in the partial sale to Apax Partners in 2007.
Before TMG Andrew worked in various senior finance roles, mainly with companies in the consumer goods sector, including Pepsico, Procter & Gamble and Bass PLC. He is a member of the Institute of Chartered Accountants Scotland, trained with Pricewaterhouse, and is a law graduate of Edinburgh University.
The process to find a replacement for Andrew at TMG begins immediately and an appointment will be made in the coming months.
Carolyn McCall, chief executive of GMG, said: “Nick has been an exemplary finance director for GMG, and his contribution to the expansion and achievements of the group in recent years has been immense.
“We are very sorry to lose him, but in Andrew Miller we have a first-class successor. Andrew has been a key player in Trader Media Group’s phenomenal success and he also has a deep understanding of the unique nature of GMG.”
Further information: Chris Wade 020 3353 4041