11th Sep 2014 07:59
LONDON (Alliance News) - Independent News & Media PLC said Thursday that it has appointed Ryan Preston from Tesco PLC as group chief financial officer, replacing Eamonn O'Kennedy as he prepares to leave the company.
The AIM-listed company said O'Kennedy will step down in December to pursue other interests. At this time Preston will replace the outgoing finance head.
O'Kennedy - who has been with the company for 15 years - will stay in his current role until after Preston joins the company in order to enable a "seamless transition."
Preston joins from Tesco where he currently holds the role of group finance director, Europe. Since joining the supermarket in 1997 when the company acquired Stewarts Supermarkets, he has served in senior financial positions in Operations, Clothing & Homeware, and Distribution & Supply Chain Management. He became CFO of Tesco Ireland in 2010 and was promoted to group finance director for Tesco Europe in 2013.
"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," said O'Kennedy.
Shares in Independent News & Media were Thursday morning trading 2.80% higher at 0.138 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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