Northcliffe Media managing director Michael Pelosi and his deputy Alex Leys are both retiring, staff have been told.
Pelosi is to replaced by Steve Auckland, another Daily Mail and General Trust executive, who is currently managing director of national free daily Metro.
Pelosi started out at Northcliffe Newspapers in 1988 as group finance director before being appointed deputy managing director in 1995. He became managing director in 2004.
Leys is a former editor who has been with Northcliffe for 28 years.
Press Gazette understands that group commercial development director Linda Grant will replace Auckland at Metro.
Northcliffe is the UK’s fourth biggest regional newspaper publisher.
In February a management statement revealed that it is still going through tough times financially.
It revealed that it had cut more than 200 jobs in the first quarter of the financial year and stated that revenue was down six per cent to £59m for the period.
Last year Northcliffe Media recording operating profit up 24 per cent to £30m on revenue down 10 per cent year on year to £294m.
On Tuesday it was revealed that the chief executive of another of the big four regional publishers – John Fry at Johnston Press – was standing down after two years in the job. He has said he will leave by March 2012 to ensure a smooth hand-over.
At Johnston pre-tax profit for 2010 fell 29.6 per cent year on year to £30.5m on revenue down six per cent to £398.1m, it was reveaed this week.