Alex Salmond has joined a plot to topple the board and senior management of Johnston Press, pledging to revitalise the struggling publisher of the Scotsman and shift its corporate headquarters back north of the border.

The Telegraph can reveal that the former First Minister of Scotland is collaborating with Christen Ager-Hanssen, the Norwegian activist investor behind the planned coup, who intends to nominate him to become chairman of Johnston Press.

Mr Ager-Hanssen, now the biggest shareholder in the company with a 20pc stake, is this week expected to call a meeting to oust the incumbent Camilla Rhodes and install Mr Salmond.

The surprise move comes amid rumours that Mr Salmond was involved in a consortium seeking to buy the Scotsman. Under Mr Ager-Hanssen’s plans the former RBS economist will become chairman of all of Johnston Press, which also owns the i, the Yorkshire Post and scores of local titles nationwide.

Mr Salmond, whose first job was selling copies of Johnston Press's Edinburgh Evening News, told The Telegraph he wants to help deliver a financial turnaround to allow the publisher to reinvest in journalism.