Find your ‘magnetic north’ – Trinity Mirror chief’s advice on managing business change
“Your organisation must match your strategy” - the CEO of Trinity Mirror Group PLC Simon Fox gave this advice to assembled business leaders from the worlds of marketing, media and publishing at Propeller’s recent round table dinner.
Fox, a former Chief Executive of HMV, shared lessons in managing change in businesses facing disruption and undergoing digital transformation at the event held at The Club at the Ivy, London.
He stressed that digital disruption is seeping into every sector and businesses must understand the pace of change in their sector, otherwise they can make big mistakes. He recalled how Waterstone’s, then owned by HMV, felt the shock of the arrival of the Kindle ereader at Christmas in 2009. Disruption came fast in the book market, however he also pointed out that this sector found its bottom and is now actually back in growth, albeit at a lower base.
His key points of leadership advice were:
Attendees for the dinner, pictured from bottom right anti-clockwise, Simon Fox, CEO of Trinity Mirror; Matt Edwards, CEO of WCRS; Nelius De Groot, CEO of Mporium; Zoe Harris, Marketing Director of Trinity Mirror; Peter Zillig, CEO of Cheil UK; Daren Rubins, CEO of The Lighthouse Company; Rose Bentley, Global Head of Reputation at Wolff Olins; Martin Loat, founder of Propeller; Parveen Dhanda, Future Fifty Programme Lead at Tech City UK; Ivan Mazour, CEO of Ometria; Kieran Kent, Managing Director of Propeller; Becky Munday, CEO of Mando; and Julio Bruno, CEO of Time Out Group.