The parent company of the Daily Mail, a U.K. tabloid paper and news website, said its long-time CEO would retire at the end of the month and be replaced by a digital vet.
The company, Daily Mail & General Trust, has been aiming to widen the increasing traffic of its Dailymail.com U.S. website, which focuses on clicky celebrity news. The company is known best in the U.K. for its 200-year-old tabloid newspaper, but most of its money comes from business services and financial publishing.
Paul Zwillenberg will appointed as CEO effective June 1. He’s currently global leader media sector for the Boston Consulting Group, and earlier was the managing director of DMG Media Digital, and has worked closely with DMGT for 20 years, the company said.
“Paul’s strategic insight and close involvement across our portfolio over the last 20 years means that he is ideal for the role of CEO at this exciting time for our diversified businesses,” the company’s chairman said in statement.
Current CEO Martin Morgan, who has been with the company for 27 years, will retire on May 31. He will return as an advisor for one year starting in January.
Zwillenberg’s appointment follows DMGT’s confirmation that it is involved with a possible bid to buy Internet giant Yahoo. The company said it is in talks “with parties who may potentially be interested in Yahoo,” although DMGT itself hasn’t submitted an offer.