The managing director of the Independent and Independent on Sunday Terry Grote has announced he is to step down at the end of the year.
Grote, 58, has decided to take early retirement after running the Indy titles for nine years.
His 30-year career in the newspaper industry began when as a sports reporter in regional newspapers before partnering Sir Ray Tindle in the building of the London regional newspaper group Capital Newspapers, which was later acquired by Independent News & Media.
He was chief executive of IN&M’s regional newspaper group in the UK before moving to The Independent after IN&M took control in 1998.
Grote said: ‘I have been discussing my early retirement with the company for some time and we have finally settled on May this year. It has been a real honour to work with such great people during a phase of The Independent’s history that has seen so much positive change.
‘The Independent pioneered the compact quality newspaper around the world, with a startling impact on circulation, and I was very proud to have been at the forefront of that.
‘I am very grateful to have had the opportunity to have worked for such a magnificent world-wide newspaper company headed by Sir Anthony O’Reilly, the best proprietor anyone could have hoped for.
‘I am keen to stay active while I am still young enough to do so, and intend to commit more time to a number of private interests, while trying my best to get my golf handicap down”.
IN&M’s UK chief executive Ivan Fallon said: ‘Terry has embodied the spirit of The Independent since he took over – intensely loyal, passionate, fair and ethical. Above all, he is a thoroughly nice man, much appreciated and respected by the editors and staff.
‘He injected an element of professionalism and control into the London newspapers at a troubled time in their short history, and has driven initiatives and changes which have restored the titles’ reputation for innovation and integrity back to their highest levels.”