Peter Bruce takes over at BDFM

BDFM‚ owner of Business Day‚ Summit TV and the Financial Mail‚ is a 50:50 joint venture between media house Avusa and Pearson in the UK.

Bruce‚ who has been editor of the newspaper since 2001‚ will retain responsibility for editorial strategy‚ including building a digital and integrated news organisation.

He has been with BDFM since its launch in 1997‚ first as editor of the Financial Mail and then at Business Day. Prior to that‚ he spent nearly 20 years with the Financial Times‚ serving in various capacities in the UK‚ Germany and Spain.

In a statement‚ BDFM chairman Michael Spicer said: "I am delighted that Peter has agreed to take up position as publisher of BDFM. He knows the company and media titles inside out‚ and as editor of Business Day for the past 11 years and previously at Financial Mail‚ he‚ more than anyone‚ understands the challenges and opportunities the company faces."

Bruce said he was "humbled" by the appointment. "I know the BDFM business extremely well and I have been an editor in the company since its inception in 1997‚ first of the Financial Mail and more recently at Business Day‚" he said.

'Unprecedented challenges'

"Traditional journalism faces unprecedented challenges‚ but at BDFM we are well equipped for the future. We have great shareholders‚ each with a proud history in independent and robust journalism. We have a clear‚ forward-looking strategy in place that makes good sense across print‚ digital‚ television and‚ hopefully soon‚ digital radio.

"We have great brands in Business Day‚ the Financial Mail‚ Summit TV and its associated lifestyle channels and‚ more recently‚ BDlive‚ a broad digital news platform‚ which I suspect will in time become the company flagship.

"Most of all‚ we have great people inside the company and a truly inspiring and powerful community of readers and advertisers. I fully appreciate that we are there to serve those readers and to help advertisers serve them too. I will take the utmost care with all of the people whose lives and interests BDFM touches."

Pearl Sebolao‚ deputy editor of Business Day‚ will be acting editor until a replacement for Bruce is appointed.

Malunga resigned from his job on August 17 after he was suspended. The suspension was lifted and the parties decided on a confidential "settlement"‚ Spicer said at the time.