An Extraordinary General Meeting of the JC on Tuesday night saw the appointment of a new board.

The majority shareholder, the Kessler Foundation, expressed its gratitude to the former board for its role in tackling a large deficit and breaking even.

Looking to the future development of the paper and JC brand, the Foundation decided that it wished to appoint Stephen Grabiner, who has extensive experience in media companies, to lead the JC board.

Following his appointment, Mr Grabiner will stand down from his existing role as a member of the Kessler Foundation.

Mr Grabiner paid tribute to the outgoing board: “When Anthony Julius, Lord Finkelstein, Paul Mann and Michael Marx joined the board, the paper was incurring unsustainable losses.

“Under their stewardship it has become a steady ship again. The intention now is to build on those foundations and take the JC to new heights.”