Soutar stepping down as Evening Standard CEO
Shortlist Media Co-founder Mike Soutar has announced he will step down as Chief Executive at the Evening Standard at the end of May, a role he took up in October.
After only six months in the role, Soutar has stated he has "reflected" on his ambitions and decided to refocus his efforts. He was the first to hold the role of CEO at the London publication.
Soutar was the Co-founder of what is now Stylist Media, which rebranded in 2018. He is also known for his appearances on BBC's The Apprentice, on which he has interviewed contestants since 2010.
The Evening Standard made consecutive losses of more than £23 million in the lead-up to Soutar joining the paper in 2019; and in recent weeks has faced yet more challenges with the impact of coronavirus, which has cut advertising revenues across the board.
The free paper is distributed across London's stations and commuter routes, which are now drastically quieter with the introduction of lockdown.
Mike Soutar said: “In the last few weeks I’ve taken time to reflect on my own ambitions and plans and it is on that basis that I have made the decision to step away to pursue other business interests.
“I will remain a passionate supporter of the Standard and its brilliant people.”