Buckley scores an own goal at Aviva
Published 05/06/2011 | 05:00
Institutional shareholders voted five to one against the re-appointment of Leslie Buckley at Friday's INM annual general meeting.
"I personally suspect that Leslie Buckley would still be on the board if it hadn't been for his bizarre behaviour over resolution one. He may be regretting his poor judgement," CEO Gavin O'Reilly told the Sunday Independent.
Institutions voted overwhelmingly to back both CEO Gavin O'Reilly and chairman Brian Hillery's re-election, despite Buckley's call for them to consider their positions.
O'Reilly told the shareholders that while trading conditions were difficult, there was "light at the end of the tunnel".
Shareholders also heard how international financier Dermot Desmond had bought a stake in Independent News & Media as a "value investment".
Sunday Indo Business