O'Reilly Agrees to Split Chairman and Chief Executive Roles at Independent News & Media
Warner, Jeremy, The Independent (London, England)
SIR ANTHONY O'Reilly yesterday moved to comply with best corporate governance practice by voluntarily separating his role as chairman and chief executive of Independent News & Media, publishers of The Independent.
At the same time, the group announced that it has signed a new EUR588m (pounds 414m) facility with its nine banks, giving the group complete financial security for the next five years.
Announcing the board's decision to split the roles at the company's annual general meeting in Dublin, Sir Anthony, executive chairman, pointed out that in the US the two positions are combined successfully in 80 per cent of companies, but he acknowledged that the reverse …
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Publication information: Article title: O'Reilly Agrees to Split Chairman and Chief Executive Roles at Independent News & Media. Contributors: Warner, Jeremy - Author. Newspaper title: The Independent (London, England). Publication date: June 7, 2003. Page number: 21. © 2009 The Independent - London. Provided by ProQuest LLC. All Rights Reserved.
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