O'Brien expresses his 'total confidence' in INM boss
BILLIONAIRE telecoms magnate Denis O'Brien expressed his "total confidence" in INM boss Vincent Crowley at Friday's seismic AGM in Citywest, which saw a major boardroom shake-up at Ireland's biggest newspaper and media group.
As chairman James Osborne was ousted in a dramatic vote, a spokesman for O'Brien, INM's largest shareholder, said: "The new chief executive Vincent Crowley has my total confidence."
"Our focus is on maximising available cash flow for continued debt paydown, which will deliver value for our shareholders. Together with the INM management team, I am very focused on our core strategic and financial objectives which will, in time, return INM to growth and deliver value for all shareholders," Crowley said.
"I'm an independent CEO and will operate as such. That's the reality," Crowley told the Sunday Independent. "Denis O'Brien is a shareholder, so is Tony O'Reilly and so is Dermot Desmond. We will listen to all shareholders."
Sunday Indo Business