Leslie Buckley To Step Down As INM Chairman

19 Jan 2018 | 04.57 pm

Leslie Buckley To Step Down As INM Chairman

EGM on March 1 to appoint four new directors

19 Jan 2018 | 04.57 pm

Leslie Buckley, chairman of Independent News & Media plc, has informed the company that he will be stepping down from his position at an Extraordinary General Meeting on March 1.

At the same time, INM signalled the appointment of  four new non-executive directorsJohn Bateson, Fionnuala Duggan, Murdoch MacLennan and Seamus Taaffe. INM said Buckley’s successor as chairman will be announced shortly after the EGM.

In a statement, the INM board thanked Buckley (73) for his contribution to the company since his appointment as chairman in 2012. “Leslie has been a very strong leader of INM’s board during what has been a difficult and challenging period for the company at a time of great change in our industry,” said the statement.

“He has shown great fortitude and resilience in guiding the board during this time and leading INM’s strategic efforts to prepare for the challenges that lie ahead.  We note in particular the very strong financial base INM now has following his term as chairman. The financial restructuring he led in 2013 has cleared a legacy deficit in excess of €430 million, to a position today where the company has a cash surplus in excess of €90 million.”

A longtime ally of Denis O’Brien, INM’s largest shareholder, Buckley (pictured) is currently embroiled in an investigation into some aspects of INM’s affairs by the Office of the Director of Corporate Enforcement.

 

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