GCap Media has appointed Richard Eyre, a former Capital Radio chief executive, as non-executive deputy chairman and chairman designate with effect from May 1. He will take over the non-executive chairman role from Peter Cawdron in November.
The radio group announced the appointment in a pre-close trading update that saw it forecast a 9% decline in total revenue for the year ended March 31. It also forecast the on a like-for-like basis revenues will increase 1% on a year on year basis for the last quarter but will decrease by 3% for the year. Its results are due on May 30.
It also says that advertising revenue as “steadily improved” over the past six months and it expects to be ahead of the market in the last quarter of the financial year.
Ralph Bernard, chief executive of GCap, says: “Although the market remains uncertain and visibility short-term, we are encourage that the group has been showing an improving trend over the past six months and that we outperforming the radio advertising market for the first time.”
Eyre, who was chief executive of Capital Radio between 1991 and 1997, is also a former chief executive of ITV and holds a number of non-executive directorships across the media industry. He has resigned from the board of Guardian Media Group today but will continue to work with the group as an advisor.
Cawdron will remain on the board as deputy chairman when he steps down from the non-executive chairman role in November.