28th Feb 2014 10:35
LONDON (Alliance News) - Independent News & Media PLC said Friday that Chief Executive Officer Vincent Crowley will step down from his position and resign as a director, effective May 31, unless an earlier date is agreed.
Crowley will stay on in has role while Independent News & Media looks for a successor.
"On behalf of the Board and shareholders of INM, I wish to thank Vincent for his leadership and support and to acknowledge the very substantial progress made by INM under his stewardship," said Chairman Leslie Buckley in a statement.
The Dublin-based newspaper and media company said it would begin the search for a successor immediately.
Independent News & Media reiterated that its full-year results are expected to meet market forecasts. The company will announce its results March 13.
Shares in Independent News & Media were trading down 0.6% at EUR0.164 Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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