Michael Doorly confirmed as interim chief executive of media group INM
Appointment follows Robert Pitt’s exit from publisher of ‘Independent’ titles
New INM interim chief executive Michael Doorly pictured at the media group’s annual meeting in Dublin in August. Photograph: Dara Mac Dónaill / The Irish Times
Mr Doorly, who had previously held the roles of company secretary and chief risk officer, has worked for the media group for more than 20 years.
His appointment comes following the departure of Robert Pitt.
Mr Pitt left after talks between the company, his representatives and those of INM chairman Leslie Buckley to resolve a boardroom row over an abandoned deal for Newstalk that has dogged it for more than a year.
Mr Buckley is an associate of INM’s largest shareholder, Denis O’Brien.
The company chairman, who made no comment after Mr Pitt’s exit, said in a statement that he wished Mr Doorly “every success in his new role”, adding that he would “very much look forward to working with him in driving the business forward”.
INM’s share price dropped 4.63 per cent on Friday and was trading at €0.103 on Ireland’s benchmark Iseq index by the close of the markets.
The media group publishes the Irish Independent, Sunday Independent, Herald and Sunday World titles and has a 50 per cent interest in the Irish Daily Star.