Organisation: Financial Times

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Analysis and commentary by Echo Research.

Pity the poor pink 'un. Already struggling with declining sales and advertising revenues, a perceived loss of authority in the City and a lack of focus on UK issues, the former 'City's bible' (Independent on Sunday, 6/11) was dealt a further blow last week with the forced resignation of its editor, Andrew Gowers. " Very rapid and a little blunt … not the way they normally do things at the FT" noted the Times (5/11): " Blood at the pink 'un" echoed the Daily Telegraph (4/11).

Media commentators were quick to dismiss the official explanation of " strategic differences" between Gowers and FT owner Pearson as " euphemistic PR-speak" (Daily Telegraph, 4/11), and dived into the " slew of conspiracy theories" (Guardian, 4/11) behind his departure. Most popular were that Gowers had focused too heavily on international news at the expense of UK issues and had lost the confidence of the City with its perceived flabby policy on executive pay, Blair and Europe. His management style - " aloof and out of touch" (Scotland on Sunday, 6/11) - was also noted. But with a firm 'no comment' from Gowers, the conspiracy theories remained just that. "' Pearson CEO picks moderniser to succeed Gowers'? It will need to be a dammed sight more exciting than that" sighed the Observer (6/11).