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Chief executive at INM to step down

INDEPENDENT News & Media PLC has announced that group chief executive Vincent Crowley is to step down in the coming months.

In a statement last night, INM said Mr Crowley (pictured right) will continue in the role while the selection process for a new group CEO gets under way.

"My focus as CEO of INM over the past two years has been to restore financial stability and to restructure and reposition the company for growth across multiple platforms," Mr Crowley said. "With the support of a wide range of stakeholders, substantial progress has been made over recent years."

Chairman of INM, Leslie Buckley, thanked Mr Crowley – who has been with the company since 1990 – for his "leadership and support" and acknowledged the "very substantial progress made by INM under his stewardship".