Magazine article The Spectator

The War of the FT Succession Is on, but It's Time to Turn the Page

Magazine article The Spectator

The War of the FT Succession Is on, but It's Time to Turn the Page

Article excerpt

CITY AND SUBURBAN

The fight for the leadership is on, but the Financial Times, unlike the Conservative party, still believes in the customary processes of consultation. Inside its tinted-- glass palace, the processes are hard at work. Everybody believes but nobody will quite say that Richard Lambert, editor since 1991, is standing down. Names better known inside the building than out are allowing themselves to be put or pushed forward for the succession. The assumption is that Marjorie Scardino, chief executive of Pearson, which owns the FT, will invite one of them to form a government and that all will then be calm again. I wonder. To begin with, neither Pearson nor its chief executive are riding as high as they were - as an unusually disrespectful analysis in the FT has pointed out. For them, as for so many others, the wonders of the electronic world have proved a wonderfully effective way to get through money. …

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