Hazlitt invests in her GCap future

Hazlitt: radio and online role

Amanda Andrews Fru Hazlitt, the newly appointed managing director of GCap London, yesterday marked her appointment by buying £250,000 of GCap shares. The high-profile board appointment at GCap, which will see Ms Hazlitt paid a salary of £265,000, follows her recent departure from SMG, where she was chief executive of Virgin Radio. She will lead London radio stations, including Capital Radio and Choice FM, and

GCap's online operations. Ralph Bernard, chief executive of GCap, said that once Ms Hazlitt had settled into her new role, she would be responsible for finding a managing director of Capital Radio. That role, which will report directly to Ms Hazlitt, was close to being won by Karren Brady, but it is understood that she had difficulty persuading the Birmingham City Football Club board to reduce the length of her contract as chief executive. Ms Hazlitt will join an executive board of three, which

includes Mr Bernard, Steve Orchard, the group operations director, and Wendy Pallot, the finance director. It is thought that Ms Hazlitt's appointment, which begins on May 1, is part of a future succession plan The City welcomed the appointment. Patrick Yau, an analyst at Bridgewell Securities, said that it would "improve investor sentiment around the stock, particularly regarding the critical London stations". GCap's shares yesterday closed up 1.43 per cent at 212.25p.