24 Oct 2011 16:01
DIRECTORATE CHANGE:
INM ANNOUNCES THE APPOINTMENT OF NEW CHAIRMAN AND RETIREMENT OF DR. BRIAN HILLERY
Ticker: (Bloomberg) INM.ID/INM.LN and (Reuters) INME.I/INME.L
24 October 2011, Dublin/ London Independent News & Media PLC ("INM" and/ or the "Company") today announces the retirement of Dr. Brian Hillery as Chairman and from the Company's Board.
Mr James Osborne has been appointed as a Director and succeeds Dr Hillery as the Company's chairman with effect from today (Monday).
The appointment of Mr Osborne follows an independent search conducted by Lamarck Limited, a specialist London-based search and advisory firm.
Mr Osborne is a former Managing Partner of A&L Goodbody Solicitors. He is the current Senior Independent Director at Ryanair Holdings, a non-executive Director of James Hardie Industries and Chairman of Eason and Son Ltd, a private company.
Commenting on the appointment and his own retirement, Dr. Brian Hillery said: "Last November, I informed the Board that I planned to retire and agreed to serve until a suitable successor had been identified. I am delighted that the Board has approved James Osborne's appointment. He brings a wealth of experience and skill to the Board.
"I have served on the Board for eight years and have greatly appreciated the support of shareholders. I have had the privilege to work alongside excellent directors and management. After some recent challenging years for the Company I am happy that this appointment marks the beginning of a new chapter in its history and I wish James well in his new role."
Commenting on his appointment, James Osborne said: "It is a real honour to have been elected as Chairman of Ireland's largest and most successful media group, a group that has made its mark across the globe. My predecessor Brian Hillery has successfully piloted the Company with great resolve and commitment through some very difficult times and he retires from a Company that is leaner, more focused and better positioned for future growth. "
- ENDS -
Karl Brophy Investors and Analysts
Director Corporate Affairs Mark Kenny/Jonathan Neilan
Independent News & Media PLC K Capital Source (Dublin)
+353 86 047 1951 +353 1 663 3680
Email: inm@fd.com
NOTE TO EDITORS:
After qualifying as a lawyer James joined A&L Goodbody in 1973 as a Solicitor. In 1979 James was asked to open Goodbody's office in New York. After two years in New York, where he established the firm's US presence and its position in the cross Atlantic market, he was appointed Managing Partner and he led the firm from 1982 until 1994.
Since 1994 James has served on the Board of numerous publicly listed Irish organisations in the financial, food and agribusiness, consumer goods, health and heavy industry sectors. He has acted as an advisor to a number of Irish and international organisations. James has worked with several large corporations on their M&A and financing issues and he has assisted a number of smaller emerging companies with their growth strategies.
James joined the Board of Ryanair Holdings in 1996 and he is currently the Senior Independent Director; he worked on the flotation of Ryanair in London, New York, and Dublin. He is currently the Chairman of Centric Health and Eason & Son Ltd and serves on the Board of James Hardie Industries. James was Chairman of Heineken Ireland and Newcourt Group and has held non-executive directorships at the Bank of Ireland, Golden Vale plc, Adare plc and Carrolls Holdings plc.