Huntingford to Chair Virgin Radio

By Hamish Rutherford

SMG has secured a heavyweight from the world of commercial broadcasting to head up its own radio division as it presses ahead with its demerger of Virgin Radio.

Former Chrysalis Radio chief executive Richard Huntingford has been hired to become non-executive chairman of Virgin Radio and guide it through its IPO, expected to take place some time in the autumn.

The 51-year-old is credited with masterminding the development of Chrysalis from its initial investment in radio into one of the UK’s leading commercial radio groups, becoming group chief executive in 1994. It was recently sold to Global Radio.

Huntingford would take up the post from 1 September and will guide it through an IPO which analysts have previously said could raise up to GBP 100 million. Glasgow-based SMG announced plans for the spin off in April to reduce high levels of debt and focus on television production.

Also joining the board as senior independent director is another heavyweight of the UK corporate arena, Rosemary Thorne.

Her previous roles have included finance director at Ladbrokes, Bradford & Bingley and Sainsbury’s, before building a career as a non-executive, with current roles including Cadbury Schweppes and Abbey National.

She and Huntingford will take up the roles from the start of September. Meanwhile David Palmer, who joined Virgin Radio at the start of July, will be chief financial officer at the division.

Virgin Radio chief executive Paul Jackson said the company now had the board which could successfully go to the market, headed by Huntingford.

“There are few people who know more about radio than him. He literally built a radio station from nothing to number one in the market in London and we’re tremendously lucky to have him,” he said.

Analysts welcomed the appointment of such a respected figure to head the process through a turbulent market.

SMG insisted the flotation process was still on track though declined to name a date when trading would begin or how much it expected to raise from the process.

Its shares closed unchanged on 46.75p.

(c) 2007 Scotsman, The. Provided by ProQuest Information and Learning. All rights Reserved.