13th Nov 2009 15:21
Independent News & Media PLC
Appointment of Group Chief Operating Officer and new CEO appointed for INM's Irish division
Dublin - 13th November, 2009: Independent News & Media PLC ("INM" or "the Group") is pleased to announce that Vincent Crowley (55) has been appointed Group Chief Operating Officer of INM with immediate effect, filling the vacancy created when Gavin O'Reilly became Group Chief Executive in May 2009.
Vincent has held the position of Chief Executive of INM (Ireland) since 2002. He joined the Group in 1990 and has worked in various capacities including Group Financial Controller (1994 - 1996) and Chief Financial Officer and then Chief Executive Officer of APN News & Media (1996 - 2002). He was a main Board Director of the Group from 1997 until the Board reduced in size in May 2009.
As a result of this appointment, Joe Webb (41) - currently Managing Director of Independent Newspapers (Ireland) Limited ("INIL") - has been promoted to Chief Executive of INM Ireland. Joe joined the Group in 1994 and held the positions of Management Accountant (until 2001), Group Advertising Director of INIL (2002-2005) and Managing Director of INIL since then.
Group Chief Executive, Gavin O'Reilly, said: "Vincent has a depth of media and project management experience, having held the position of CEO of our two biggest divisions, APN News & Media and INM (Ireland). Vincent has a proven track record in active cost management and spearheaded the major cost realignment and reductions within the Irish division in recent years. He has redefined and modernised the key areas of editorial, advertising and pre-press. His vast experience and proven talents will be invaluable to the broader group."
He added: "I have worked with Joe Webb for 16 years and he has proven himself to be a strong manager with impressive cost and revenue credentials. I wish him well in his new role.
"These appointments come at an important juncture for INM with the Group having just successfully agreed the Company Restructuring and secured a new 4 ½ year Senior Bank financing deal.
"These appointments will further underpin Management's unrelenting efforts to drive forward the operations of our market-leading brands through the anticipated improving economic cycle, and to restore equity value for every shareholder."
For further information, please contact:
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Independent News & Media PLC Gavin O'Reilly Chief Executive Officer Donal Buggy Chief Financial Officer Tel: + 353 1 466 3200 |
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Media Pat Walsh Murray Consultants (Dublin) Tel: +353 1 498 0300 |
Rory Godson/ Paul Durman Powerscourt (London) Tel: +44 20 7250 1446 |
Investors and Analysts Mark Kenny/ Jonathan Neilan FD K Capital Source (Dublin) Tel: +353 1 663 3686
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