THE SPECTATOR LIMITED
For the information of readers, The Spectator Limited, as proprietors of the Spectator and on their sole authority set out below the full statement issued by the Board on the 7th November.
1. At a Board Meeting of the Directors of The -Spectator Limited held this morning the employ- ment of Mr. lain Hamilton as Editor of the Spectator was terminated and the appointment of Mr. lain Macleod as Editor was approved.
2. The Board are aware of the number of con- flicting statements which have been circulating in connection with the Editorship of the Spectator and wish to take this opportunity of making their position clear.
3. The decision to appoint a new Editor was not made in haste but after careful consultation between Mr. Gilmour and the two other ex- ecutive Directors which 'had been going on for several months. Deliberations on the future of the paper took place and the possibility of a change of editor was discussed by Mr. Gilmour and Mr. Hamilton on September 17 and by the Managing Director and Mr. Hamilton on Sep- tember 27. The Board wish to emphasise that this decision was taken long before there was any question whatever of Mr. lain Macleod becoming Editor of the Spectator.
4. Unfortunately owing to circumstances be- yond the control of the Board the news of Mr. Macleod's pending appointment as Editor leaked out last Thursday and Mr. Hamilton first heard of it from the national press on the same day.
5. The Board wish to record their deep regret That Mr. Hamilton should have learnt the news in this manner. They appreciate that he is en- titled to compensation for termination of his Service Agreement and the Company's Solicitors have been instructed to negotiate terms for this compensation with Mr. Hamilton's Solicitors and the Company will make payment on account of such compensation.
6. The Board also wish to take this opportunity of correcting certain statements and letters that have appeared in the national press in connec-
tion with the so-called Spectator Trust. Under the Articles of Association of the Company any .transfer of more than 49 per cent of the shares in the Company is subject to the approval of a special Committee consisting of the Chairman of the LCC, the President of the Royal Society, the President of the Royal Historical Society, the President of the Law Society, the President of the Institute of Chartered Accountants, and the ChairMan of the Headmasters' Conference.
7. It is pointed out that nothing in the nature of a Trust exists, but only a committee which is convened when it is proposed that shares should be transferred. It was never contemplated that the Committee should have any control, and indeed it has no control over the appointment of the Editor, which is completely within the discretion of the Board.
8. In 1961 Mr. Gilmour communicated his de- cision to seek election to Parliament to Sir Evelyn Wrench, the Chairman of the Spectator who has been associated with the paper for forty years, and who was the originator of the idea of the committee. Sir Evelyn Wrench wrote to Mr. Gil- mour warmly welcoming his decision.
9. In view of the misunderstanding there has been about the independence of the Spechit.)r the Board desire to state that in their view inde- pendence does not mean that a paper should not have strong political views. True independence means that a paper's views arc not dictated from outside its office. Since Mr. Gilmour acquired a controlling interest in 1954 the independence of the Spectator has been plain for all to sec. Mr. lain Macleod has recently demonstrated his in- dependence in the most convincing manner.
10. The Board of the Spectator are content to be judged by the quality of the paper under Mr. Macleod's editorship.
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