GCap Media picks Eyre as non-exec chairman

by Steve Barrett Media Week 27-Mar-07, 09:30

Former ITV and Capital Radio chief executive Richard Eyre is to become non-executive chairman of GCap Media, the UK's largest radio group.

He will join GCap's board in May and take on his new role full time in October, replacing incumbent Peter Cawdron, who becomes deputy non-executive chairman.

Eyre will step down from his existing role as a non-exec board member at Guardian Media Group, because of the group's radio interests, but will stay on at Guardian Newspapers in a strategic advisory role.

He said: "Ten years ago, I was chief executive of Capital Radio and it will be great to get involved with radio at this level again. I will lead the relationship with shareholders, which is important for a company that has been through the scale of change that this one has."

Eyre will also work on strategy with GCap Media's senior executives, including Fru Hazlitt, who was sales director at Capital Radio when Eyre was chief executive.

Cawdron joined the board of Capital Radio in December 2000, was appointed deputy chairman in October 2001 and chairman in January 2002.

Capital merged with GWR to form GCap Media in May 2005, with Ralph Bernard becoming executive chairman and David Mansfield chief executive. When Mansfield left GCap in September 2005, Cawdron was made non-executive chairman of the group and Bernard took over as chief executive.

Bernard was chief executive of GWR from 1987 until 2001, during the time Eyre was chief executive of Capital Radio.

"Capital Radio was the job I've enjoyed most in my career," said Eyre. "There's something really special about radio."

Eyre, who was also previously chairman and chief executive of Pearson Television, will continue as chairman of Cornwall radio station Atlantic and chairman of the Internet Advertising Bureau.

Eyre's appointment comes a week after Ralph Bernard told Media Week that GCap Media was "not in a strong enough position" at the moment to take part in any imminent radio sector consolidation (20 March, page 5).

Bernard said GCap had enough on its plate with getting flagship station Capital right and its "two-in-a-row" ad strategy.

In a trading update today, the group forecast a revenue decrease of 9% for the year to 31 March, despite an upturn in ad revenues in the second half of the year.

Like-for-like revenues, which exclude Capital 95.8, are expected to increase by 1% year-on-year for the last quarter, with total revenue down around 3% over the whole year.

The company is expected to be ahead of the market for the last quarter of the financial year.