The chief executive of the Trinity Mirror newspaper group, Mr Philip Graf, is to step down next summer.
The company, which sold its stake in the Sunday Business Postearlier this year, says it has drawn up a subcommittee, to be chaired by Sir Victor Blank, to identify a suitable successor.
Mr Graf was appointed chief executive of Trinity Mirror in September 1999 following the merger of Trinity and Mirror Group.
Prior to his role at Trinity Mirror, Mr Graf spent 15 years with Trinity, becoming chief executive in 1993.
In July, Trinity Mirror revealed a 2.7 per cent fall in half-year profits to £78.4 million sterling from £80.6 million.
Group revenue decreased by 3.6 per cent to £554.8 million from £575.6 million, reflecting a fall of 4 per cent in advertising revenue to £312.9 million.
Mr Graf said: "After ten years as chief executive of initially Trinity and subsequently Trinity Mirror, deciding to step down was tough.
"I feel however the foundations we have laid have created a strong platform for growth and I feel that this period of notice will enable an orderly succession to take place".
PA