Torstar says John Cruickshank will be stepping down as publisher of the Toronto Star and president of the Star Media Group, effective May 4.
His responsibilities will be assumed on an interim basis by David Holland, who is president and chief executive of Torstar.
The company didn’t announce a reason for Cruickshank’s departure after more than seven years as publisher of the group’s flagship newspaper, which has the country’s biggest daily circulation.
Cruickshank said in Torstar’s statement that it had been “the most stimulating, demanding and enjoyable period of my professional life.”
The one-time reporter has held a variety of senior management positions at various media groups including the Globe and Mail newspaper, the Chicago Sun-Times and the CBC.
He became Toronto Star publisher in January 2009.
Since Cruickshank’s arrival, the Torstar group and the media industry as a whole have undergone major changes due to changing consumer and advertiser habits in an era of digital media.
“John’s leadership and strategic thinking in all aspects of the business have had a significant positive impact on Torstar,” Holland said in the statement. “Again and again, he made the tough and innovative decisions necessary to move the Toronto Star forward in these challenging times.”
Torstar announced two weeks ago it had written down the value of its continuing operations by $213.3 million in the fourth quarter, including $70.5 million at the Star Media Group that includes the Star and $130.6 million at the Metroland Media group that includes smaller dailies and community newspapers.
Chief financial officer Lorenzo DeMarchi told an analyst conference call that 2016 would continue to be challenging due to a shift in spending by advertisers.
Cruickshank told the same conference call that advertisers had responded positively to Star Touch, a tablet-only product launched last fall, but Holland said growth in the app’s audience was slower than originally anticipated.
Holland said on the March 2 call that the company expected Star Touch to break even by 2017 and that it’s part of Torstar’s push towards a more digital future.
