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Following a profit warning in September and the delivery of a loss-making performance last year, Jeremy Middleton has resigned as chief executive of marketing services venture Media Square.

A vigorous acquisitive spree over his five years in the job, which took revenues from £3 million to over £200 million, left Middleton with a mammoth restructuring task. New executive chairman Roger Parry, the former BBC journalist who mounted a bid to buy ITV last year, arrives with much of that restructuring complete and is embarking on a
‘full strategic review’.

Ambitious Parry is the man who, as chief executive officer, sold UK advertising player More Group to hawkish US media mammoth ClearChannel. Outside Media Square, he plans to launch the £75 million India Media Fund on AIM this year and is new chairman of online market research star YouGov. Parry holds the same roles at Mobile Streams and fully listed publishers Johnston Press and Future.

Agreeing that integrating acquisitions has been ‘challenging and complex’, Parry signalled his confidence by subscribing to around £435,000 of new shares in Media Square, which have fallen over two years from 31.5p to 12p.