Daily Mail owner appoints new CEO of DMG Media

Appointment comes as Rothermere family offers £3.1bn to take owner of Daily Mail, Mail on Sunday and Mail Online private.

DMG Media: appoints new CEO and deputy CEO
DMG Media: appoints new CEO and deputy CEO

Daily Mail owner DMGT has appointed Rich Caccappolo as chief executive of DMG Media, to replace incumbent Kevin Beatty, who is retiring.

Caccappolo, who was the chief operating officer of Mail Online, is being promoted to the role, while DMGT deputy chief financial officer James Welsh will become deputy CEO of DMG Media. Effective from today (17 November), both will lead the holding company for Associated Newspapers, Northcliffe Media and other DMGT subsidiaries, which owns titles including the Daily Mail, The Mail on Sunday, Mail Online, Metro, and i.

The appointment of a new leadership team comes as majority shareholder Lord Rothermere's plans to take DMGT private near fruition. He is buying out the 64% of the company that he and his family do not already own. It amounts to an offer of £3.1bn and will end DMGT's 90 years on the London Stock Exchange.

There has been some opposition to the deal, with 4.6% shareholder Majedie Asset Management opposing the valuation.

Rothermere commended Caccappolo for his role as a "driving force behind making Mail Online a global commercial success".

He added: "After over 10 years as CFO of DMG Media, James Welsh brings with him extensive knowledge of the business and its potential.

"Rich and James are a formidable team, having both played integral parts in our success to date. I am confident that they are the right people to lead us through this next exciting phase of our development."

Beatty, who is retiring after 25 years at DMGT, will remain a non-executive director of the DMGT board. Rothermere thanked him for his service.

He added: "He has been a brilliant leader and a trusted adviser and friend, and I will miss him immensely – as will, I am sure, everyone who works for him. I wish him the happiest and longest of retirements."

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