Business big shot

The job advert could have read: "Struggling company in ailing sector seeks undaunted, enthusiastic chief executive." In Fru Hazlitt, GCap seems to have found the perfect applicant. Ms Hazlitt, who was announced as GCap's new chief executive yesterday, has plenty of enthusiasm. She may need it. GCap has had a difficult few years since it was formed in early 2005 by the merger of Capital Radio and GWR. At the time of the merger, its market capitalisation stood at £711 million and it is now closer to £200 million. Difficult advertising conditions and m 2G

a competitive London market, which has seen Capital 95.8 lose market share to Heart 106.2 and Magic 105.4, have added to GCap's woes. Britain's largest commercial radio group is convinced that Ms Hazlitt's previous experience as managing director of Yahoo! U and Ireland, and as chief executive of Virgin Radio, make her well positioned to take on the role. Ms Hazlitt was first appointed

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eight months ago as director and managing director. She has long viewed as a potential successor to Bernard. The role, was created for her, her much responsibility, seeing her in Capital Radio and FM, in addition to GCap's online operations and national commercial sales. Ms Hazlitt, 44, has a lot riding on

her future success. Immediately after her appointment she bought £250,000...