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George Osborne, Ex-Finance Chief of U.K., to Become Editor of Evening Standard George Osborne, Ex-Finance Chief of U.K., to Become Editor of Evening Standard
(35 minutes later)
LONDON — Britain is no stranger to leading figures moving from journalism to politics, and vice versa. Now, George Osborne, the former chancellor of the Exchequer, is set to become prominent in both spheres at once.LONDON — Britain is no stranger to leading figures moving from journalism to politics, and vice versa. Now, George Osborne, the former chancellor of the Exchequer, is set to become prominent in both spheres at once.
Mr. Osborne, who was long mentioned as a potential successor to David Cameron as prime minister and who is thought to still have ambitions to lead Britain one day, was announced on Friday as the new editor of The Evening Standard, a London weekday newspaper that is among the country’s most read dailies.Mr. Osborne, who was long mentioned as a potential successor to David Cameron as prime minister and who is thought to still have ambitions to lead Britain one day, was announced on Friday as the new editor of The Evening Standard, a London weekday newspaper that is among the country’s most read dailies.
The job will be the latest in a series of posts that Mr. Osborne has taken up since he was replaced as chancellor last summer. In addition to retaining his seat in Parliament, representing the constituency of Tatton in northwestern England, Mr. Osborne joined the investment firm BlackRock as a part-time adviser this year. That position pays him an annual salary of 650,000 pounds, or about $800,000, and includes stock in the company, in return for 48 days of work a year. The job will be the latest in a series of posts that Mr. Osborne has taken since he was replaced as chancellor of the Exchequer last summer. In addition to retaining his seat in Parliament, representing the constituency of Tatton in northwestern England, Mr. Osborne joined the investment firm BlackRock as a part-time adviser this year. That position pays him an annual salary of 650,000 pounds, or about $800,000, and includes stock in the company, in return for 48 days of work a year.
He has also delivered several paid speeches and receives $150,000 in stipend costs and travel expenses as a fellow at the Washington-based McCain Institute, according to his most recent entry in the British Parliament’s register of members’ financial interests.He has also delivered several paid speeches and receives $150,000 in stipend costs and travel expenses as a fellow at the Washington-based McCain Institute, according to his most recent entry in the British Parliament’s register of members’ financial interests.
“Growing up as a Londoner, I’ve always known that the Evening Standard is an institution that plays a huge part in the life of the city and its people,” Mr. Osborne said in a statement published by the newspaper. “Growing up as a Londoner, I’ve always known that The Evening Standard is an institution that plays a huge part in the life of the city and its people,” Mr. Osborne said in a statement published by the newspaper.
“We will judge what the government, London’s politicians and the political parties do against this simple test: Is it good for our readers and good for London?” he said.“We will judge what the government, London’s politicians and the political parties do against this simple test: Is it good for our readers and good for London?” he said.
Mr. Osborne, a member of the governing Conservative Party, was replaced as chancellor after Britain’s vote to leave the European Union in June. He had been a prominent supporter of the campaign to remain in the bloc and was not asked to join the new cabinet when Theresa May replaced Mr. Cameron as prime minister.Mr. Osborne, a member of the governing Conservative Party, was replaced as chancellor after Britain’s vote to leave the European Union in June. He had been a prominent supporter of the campaign to remain in the bloc and was not asked to join the new cabinet when Theresa May replaced Mr. Cameron as prime minister.
His decision to remain in Parliament while editing the Evening Standard will raise questions about how he will maintain the independence of the paper while representing his constituents. His decision to remain in Parliament while editing The Evening Standard will raise questions about how he will maintain the independence of the paper while representing his constituents.
Evgeny Lebedev, who owns the Evening Standard, described Mr. Osborne as a person of “huge political achievement, and economic and cultural authority.” Evgeny Lebedev, who owns The Evening Standard, described Mr. Osborne as a person of “huge political achievement, and economic and cultural authority.”
“Once he put himself forward for the position, he was the obvious choice,” Mr. Lebedev added.“Once he put himself forward for the position, he was the obvious choice,” Mr. Lebedev added.
Mr. Osborne will take up the post in May, replacing Sarah Sands, who is departing the newspaper to join BBC Radio 4 as the editor of its flagship morning news program, “Today.” Mr. Osborne will take up the post in May, replacing Sarah Sands, who will join BBC Radio 4 as the editor of its flagship morning news program, “Today.”