Former INM chief appointed to The Agency Group

Former Independent News & Media chief executive Gavin O'Reilly has been appointed Worldwide CEO of The Agency Group.

Mr O'Reilly, who left INM in April last year following a long-running dispute with the company's biggest shareholder Denis O'Brien, will be responsible for the day-to-day operations of the agency.

He will take over from the company's founder Neil Warnock who is to move into the new role of worldwide president, focused on international growth, particularly in Asia.

“With the enormous development of The Agency Group over the last few years, and with a vision solidly focused on the additional development of TAG, it was essential to find somebody of the calibre of Gavin, to realize this vision,” Mr Warnock said.

The Agency Group is one of the world’s leading booking agencies, with six international offices and nearly 2,000 musicians, speakers and authors including Dolly Parton, Ringo Starr and Katherine Jenkins.

Mr O’Reilly said he was looking forward to building on the rapidly expanding the scale and repertoire of The Agency Group.

His INM resignation ended 39 years of direct control by the O’Reilly family in Ireland’s largest media group.

He had been appointed chief executive in May 2009 having previously held various senior management roles after being brought into the business by his father Sir Anthony O’Reilly, who owns 14 per cent of the company.

Mr O’Reilly’s tenure at Independent News & Media was marked by stakebuilding by Mr O’Brien, who now controls 29.9 per cent of the company.

In 2012, Mr O’Reilly received total compensation of €2.13 million from the company.

This included a salary of €216,000 for his role as chief executive in the first four months, as well as a €1.87 million compensation payout on his departure. This latter payment was the subject of a High Court case that was settled.

Independent News & Media last month embarked on a financial restructuring that will include a €138 million debt writedown by its bankers. The company is also planning to sell its South African business, and raise €40 million in fresh equity.