Independent News & Media Regulatory News (INM)

INM PLC ANNOUNCE CHANGE AT CFO LEVEL

Ticker: (Bloomberg) INM.ID/INM.LN and (Reuters) INME.I/INME.L

Dublin/London - Thursday, 11th September 2014:Independent News & Media PLC ("INM" and/or the "Company") advises that Mr. Eamonn O'Kennedy is to leave the Group to pursue other interests. This coming December, Eamonn will be replaced as Group Chief Financial Officer by Mr. Ryan Preston, who joins from Tesco, where he currently holds the role of Group Finance Director Europe. Eamonn O'Kennedy will stay in his current role until after Ryan Preston joins the company, thus enabling a seamless transition in the role.

Chairman of INM, Leslie Buckley said: "On behalf of the Board of INM, I would like to thank Eamonn O'Kennedy for his significant contribution and dedication to his various roles within the company over fifteen years, in particular for his considerable input as CFO to the financial restructuring of the business over the past two years. We wish him every success with his future career."

Eamonn O'Kennedy said: "Given the success of the financial restructuring completed in 2013 and after over 15 years in the Company, I feel that it is time for me to look at new opportunities. I wish the Board, the new CEO and all of my many colleagues, with whom it has been an absolute pleasure to work, every success for the future."

Welcoming Ryan Preston's appointment as CFO, Leslie Buckley said: "I am delighted we are in a positon to attract someone of Ryan's calibre to INM. His appointment follows an extensive recruitment process, via an independent recruitment firm. The process was overseen by the Nominations Sub-Committee of the Board. There is continued work to do in terms of transforming INM in terms of organisational change and responding to the challenge presented by digital. We will look to build on the back of the strong first half performance for the company."

A native of Belfast, Ryan Preston, aged 41, holds a BA (Hons) in Accounting from the University of Ulster in Jordanstown. Having worked in Stewarts Supermarkets, he joined Tesco in 1997 as part of the acquisition working in internal audit. He then held senior financial positions in Operations, Clothing & Homeware, and Distribution & Supply Chain Management. He became CFO of Tesco Ireland in 2010 and in 2013 was promoted to Group Finance Director for Tesco Europe.

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