We wish him luck:
In my New Year message, I said 2013 would test our resolve to move further and faster to support top quality journalism in a rapidly changing media landscape.
I now want to set out in detail how we propose to reshape the FT for the digital age. We need to do less in certain areas and more in others, we need to be much more nimble, and we need to reshape our teams.
Today we have started consultations with the NUJ with the aim of opening up an initial voluntary redundancy scheme. The intention is is to reduce the cost of producing the newspaper and give us the flexibility to invest more online.
Our common cause is to secure the FT's future in an increasingly competitive market, where old titles are being routinely disrupted by new entrants such as Google and LinkedIn and Twitter. The FT's brand of accurate, authoritative journalism can thrive, but only if it adapts to the demands of our readers in digital and in print, still a vital source of advertising revenues.
My visit to Silicon Valley last September confirmed the speed of change. Our competitors are harnessing technology to revolutionise the news business through aggregation, personalisation and social media. Mobile alone, for example, now accounts for 25 per cent of all the FT's digital traffic. It would be reckless for us to stand still.