Media General Inc (MEG) Wednesday revealed that President and CEO of the company, Marshal N. Morton intimated his plans to retire from the responsibilities at the end of this calendar year.
The leading provider of news, information and entertainment stated that the 66-year old Morton has been rendering his invaluable services to the company for the past 23 years.
The Board of Directors of the company has appointed the 60-year old George L Mahoney, presently working as Vice President - Growth and Performance, to succeed Mr. Morton, effective January 1, 2013.
The Board further added that Mahoney will hold additional responsibilities as vice president, and chief operating officer In the interim period.
J. Stewart Bryan III, chairman of the Media General board, said, "Marshall joined Media General as chief financial officer in 1989. In his early years, we refocused Media General on its core strengths of local news, excellent journalism and southeastern markets. As president, he guided Media General through unprecedented change in the media industry and a severe economic downturn. I thank Marshall for his innumerable contributions to Media General, and I wish him and his wife, Caroline, all the best in retirement,"
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