Jeff Randall, former City editor of the Sunday Times, has resigned from
PR firm Financial Dynamics after just six months to become the
newspaper’s assistant editor.
Randall, whose package as deputy chairman of FD was said to total
pounds 250,000, is taking a pay cut to rejoin the Sunday Times as number
three to editor John Witherow.
Although he said joining FD was ‘not a bad decision’, he said he missed
journalism and the Sunday Times offer was one he could not refuse.
His decision comes at a bad time for FD which was censured by the
Takeover Panel in December for leaking information while defending Amec
against a hostile takeover from Kvaerner.
More recently there have been unconfirmed reports linking it with a DTI
investigation into insider dealing in the shares of client Caradon.
Randall was adamant that his decision had nothing to do with the FD’s
problems or its chairman Tony Knox - who is named in some of the
reports. He said: ‘I would hate for this to be seen in any way as a
reflection on him.’
Knox said he was disappointed at Randall’s decision: ‘I think he would
have been very successful within the firm and the industry.’
Since joining FD, Randall has helped to bring in several significant new
accounts including the National Grid, Aegis, Ladbroke and Manchester
Randall was persuaded to return to the newspaper after the personal
intervention of proprietor Rupert Murdoch. Apart from a general news
brief, he will also write on sport and contribute a regular business
FD chief executive Nick Miles said no departure date was fixed. Randall
is on 12 months notice and said he would stay at the agency until his
‘clients and the FD board feel that my responsibilities have been fully
* Financial Dynamics has been hired on a project basis by the Alliance
and Leicester Building Society to advise it on media and investor
relations ahead of the society’s intended float in 1997.