LONDON (ShareCast) - (ShareCast News) - Trinity Mirror has announced Nick Prettejohn will take over as chairman next year as the newspaper group seeks to manage falling circulations and a phone-hacking scandal.
Prettejohn will join Trinity Mirror as a non-executive director in February from Lloyds Banking Group where he is chairman of the Scottish Widows pension and investment business. He will step up to replace David Grigson as chairman at Trinity Mirror's annual meeting in May.

Trinity Mirror owns the Daily Mirror, Sunday Mirror and Sunday People national newspapers and more than 150 regional and local papers including the Manchester Evening News and Scotland's Daily Record.

Facing dwindling circulations it is in talks to buy Northern & Shell, publisher of the Daily and Sunday Express, from media tycoon Richard Desmond.

Trinity Mirror is also facing claims from alleged victims of phone hacking. It has set aside more than £50m to cover the costs of the scandal and has paid out compensation to celebrities such as actor Steve Coogan and former England football manager Kevin Keegan.

Prettejohn made his name in the insurance industry. He ran Prudential's UK business from 2006 to 2009 and is a former chief executive of Lloyd's of London and chairman of Brit Insurance.

Prettejohn said: "Trinity Mirror has a powerful portfolio of news brands, a heritage of strong journalism and information provision, and a major and growing digital presence. I'm looking forward to working with the management team and board to realise further the potential of those assets."

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