It is expected that Dan Colson, deputy chairman and chief executive of Telegraph Group, will announce that Drayton, currently managing director of Hollinger Telegraph New Media, will succeed Jeremy Deedes, the outgoing managing director later this week.
Deedes is set to retire after almost 17 years at the Telegraph, the last six of which have been spent in the managing director's role.
News of the shake-up was first reported yesterday on Brand Republic, when it emerged that Len Sanderson, the managing director of Telegraph Sales, is to leave the newspaper group at the end of this month.
It is being speculated that Sanderson, who leaves the Telegraph Group after 18 years, lost out in the race for the top job to Drayton.
Drayton is one of the UK's new-media pioneers and was responsible for launching the UK's first national online newspaper, the Electronic Telegraph in 1994. As well as running the digital operations at the Telegraph, he has also held the role of group marketing director.
Details of the management restructure are still being finalised and replacements for Sanderson and Drayton are likely to be part of the changes.
The appointment of a new managing director follows last week's appointment of a surprise new editor at the Daily Telegraph, which saw Martin Newland elevated to the editor's chair to replace Charles Moore, who is leaving to concentrate on his biography of Lady Thatcher.
The management shake-up will also see new heads appointed in each division as part of a revamp of the paper's commercial activities.
The Financial Times reported this morning that the aim of the shake-up is to increase the flexibility of The Telegraph's advertising and circulation departments and simplify the group's reporting structure.
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