IN&M set to choose new chairman

 

INDEPENDENT NEWS & Media is expected to pick its new chairman today after an extraordinary general meeting to vote four directors onto the board of the company.

Shareholders meet to vote on the appointment of Jerome Kennedy, Triona Mullane and Len O’Hagan and the re-appointment of Leslie Buckley, bringing the number of board members to 10.

The appointment of a new chairman is due to be discussed this afternoon. A source close to the company’s biggest shareholder, Denis O’Brien, tipped Mr Buckley, who has close ties to Mr O’Brien, for the job given his past work in corporate restructuring.

If appointed, it will be a remarkable resurrection for Mr Buckley at the company. He was removed from the board in June 2011 when almost 58 per cent of shareholders voted against his re-election.

Mr Buckley directed queries to his spokesman who couldn’t comment on whether the businessman was interested in being chairman. A spokesman for Mr O’Brien had no comment on whom the businessman would be supporting.

Since Mr Buckley’s removal in 2011, Mr O’Brien has increased his shareholding at INM from 22 per cent to 29.9 per cent.

The post of chairman has been vacant since James Osborne was ousted at the AGM in June.