The World: Stockholm - Tornberg quits as Metro International president

Pelle Tornberg, known as the king of free newspapers, is stepping down as the president and chief executive of Metro International.

Under his leadership, the group invented and dominated the free newspaper industry. Metro is now the world's biggest international newspaper brand; it has 22.8 million daily readers.

Tornberg, who has worked with the company since its foundation in 1995, is expected to leave by the summer.

He said his experience had been a "truly amazing journey", but felt the time was right to hand over daily leadership of the group.

Dennis Malamatinas, the chairman, said the search for Tornberg's successor would begin immediately. Tornberg is expected to continue working in a non-executive position.