Sinyor was understood to have been one of the internal candidates to succeed outgoing Trinity Mirror chief executive Philip Graf, but he lost out to Bailey, chief executive of the Time Inc-owned UK magazine publisher IPC Media.
Bailey herself, it has emerged, was not the number one choice of Trinity Mirror chairman Sir Victor Blank. It is understood that he unsuccessfully tried to woo Camilla Rhodes, managing director of News International's News Group Newspapers, publisher of The Sun and News of the World. However, Rhodes, who is also a former managing director of Times Newspapers (a job now held by her husband Clive Milner), was uninterested in the job.
According to reports, his departure has also been prompted by a disagreement with Sir Victor. A report in the Sunday Times suggested that Sinyor had been in favour of selling off the group's three national newspapers, a move opposed by Sir Victor.
Sir Victor has already clashed with US investment bank Tweedy Browne, which holds 6% of Trinity Mirror and has also called for the sale of the national newspapers -- the Daily Mirror, Sunday Mirror and Sunday People. Sir Victor is resisting attempts to sell the papers off because of the loss of prestige that would come with the absence of the group's national daily newspaper.
Sinyor, the former managing director of Sony UK, joined Trinity Mirror in 2000 following the departure of Roger Eastoe. He joined with no national newspaper experience and appeared, at the time, to be a left-field choice.
"The Mirror doesn't make business sense. The nationals are holding back the successful regional titles. Sinyor's view is that if something doesn't make financial sense, why should you keep it at shareholders' cost?" a friend of Sinyor's, quoted by the Sunday Times, said.
Industry sources suggest Sinyor's departure is an indication that Trinity Mirror is unlikely to be broken up.
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