From a small Irish business to a €1.5bn giant
Related Articles
Sir Anthony O'Reilly is to retire as chief executive officer of Independent News & Media, having transformed an Irish newspaper business into a €1.5bn global communications company, it was announced yesterday.
For the past 36 years, Sir Anthony has been the strategic driving force behind INM, which publishes the Irish Independent and the Sunday Independent. It also has major media interests in Britain, Australia, India, New Zealand and South Africa.
He will step down from his position, and as a director of the INM board, on May 7, his 73rd birthday. Sir Anthony will be succeeded as CEO by his son, Gavin O'Reilly (42) who has been INM's chief operating officer for the past eight years.
Gavin O'Reilly joined the group in 1993, has worked in various management roles and is president of the World Association of Newspapers, the industry representative body for the $200bn global newspaper industry.
Sir Anthony, who will continue to be INM's largest shareholder, retaining his 28.5pc stake in the group, said: "It has been more than three decades since I first became involved with Independent and in that time it has been my pleasure to have worked with a range of highly talented and hugely committed directors and colleagues.
"My appreciation of them is undiminished by time. Together, we have expanded this Irish newspaper group and enshrined a fiercely independent editorial policy that is widely respected across the world. As the largest shareholder, I will continue to support their legacy and this wonderful group in the furtherance of its strategy."
