Jim Mullen, chief executive of Daily Record and Daily Express owner Reach, has left the company with immediate effect.

In a statement, Reach said Mr Mullen will be stepping down from his role by mutual agreement to take over a new role with the Jockey Club.

He has been replaced by Piers North, currently chief revenue officer at the company. He joined Reach in 2014, and has held several senior digital strategy roles both at Reach and at Yahoo, having started his career as a digital journalist.

Nick Prettejohn, chairman, said: “The board and I thank Jim for his valuable contribution over the past six years, and we and Jim agree that it is an appropriate time, following a strong full-year performance, for him to step down and for the company to take new leadership.

“We are very pleased with the appointment of Piers as CEO. He has a strong track record of leadership and delivery at Reach, and brings great experience of both the company and the wider industry. We are well positioned for the future, following our strong full-year results and strategic progress reported this month.”

Mr Mullen said: “I want to thank everyone at Reach for their hard work over these past nearly six years. Together we have put the business in a stronger position, resolving important historical issues and making real progress on our digital growth, while continuing to deliver impactful journalism.

“I’ll be taking on the role of group chief executive of The Jockey Club from 1 June, but I will continue to champion the importance of free-to-access news and the Daily Record football coverage from the sidelines, and I wish everyone the best.”

Mr North said: “It’s a huge honour to lead Reach as we continue to serve essential journalism to our audiences and to move forward with our digital evolution.

“I look forward to working even more closely with all of the talented colleagues I have already been fortunate enough to work with over my 10 years here.”

… more follows