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Mecom chief executive David Montgomery will step down "with immediate effect", it was announced today.

In a directorate change announcement, the board of Mecom Group confirmed that former News of the World editor Montgomery "has agreed" to step down from the group he founded in 2000. It was reported last year that Montgomery had announced he would retire from the European publishing group after coming under pressure from shareholders to quit. According to a report by Reuters at the time, shareholders were "fed up with ongoing high debt levels and falling sales".

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Written by
Rachel Bartlett

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