25 Apr 2012 10:07
Resignation of Director
Ticker: (Bloomberg) INM.ID/INM.LN and (Reuters) INME.I/INME.L
Dublin / London, 25 April 2012: Mr. Bengt Braun announced today (Wednesday) that he is stepping down from the Board of Independent News & Media (INM).
Mr. Braun, 65, is the Vice-Chairman and former Chief Executive of Bonnier AB, Scandinavia's largest and most successful media group, in his native Sweden. He was first elected to the board of INM in 2010.
Mr. Braun said that the allocation of new duties to him in his role with Bonnier AB was behind his decision to step down from INM.
"I am joining two additional boards within Bonnier. One of these is in the United States and will necessitate a significant amount of travel. It will soon be no longer possible for me to devote the time and expertise to INM that the shareholders deserve," said Mr. Braun.
"Accordingly, I decided that I would not be putting my name forward for re-election at the upcoming AGM. Having made that decision, I concluded that I should not be involved in strategic planning on the future of the Company at upcoming Board meetings and feel that it is appropriate that I should stand down now.
"I have enjoyed my time on the Board, despite the very difficult macro-economic climate to which the company has been exposed, and I wish all at INM every success in the future."
- Ends -
Further Information:
Karl Brophy, Director of Corporate Affairs
Independent News & Media PLC
+353 1 466 3200 (office)
+353 86 047 1951 (mobile)
CORPORATE PROFILE
Independent News & Media PLC is a leading international newspaper and media group. Its main interests are located in Ireland, Northern Ireland, and South Africa.
The Group has market-leading newspaper positions in Ireland, Northern Ireland, and South Africa and has established a strong and growing digital presence, including market-leading digital positions in each of our main markets with more than 75 editorial, classified and transactional sites. INM is the largest newspaper contract printer and wholesale newspaper distributor on the island of Ireland.
In Australasia, the Group has a 30.4% investment in APN News & Media Limited - which is quoted on the ASX (Sydney). APN is the largest newspaper publisher in New Zealand and leading regional publisher in Australia. It is also Australasia's largest outdoor advertising operator and radio operator, with over 140 stations. APN also has leading outdoor advertising positions in Hong Kong and Indonesia.
From its newspaper origins in Ireland, INM has grown and evolved to become a geographically and media diverse group with market-leading brands. In aggregate, INM manages gross assets of €699 million, revenue of €558 million and employs approximately 2,900 people worldwide.