Independent News & Media CEO Robert Pitt last night announced his departure from the group with effect from today to pursue other interests.
The Irish Times has reported that his departure comes as part of the resolution of the ongoing dispute over corporate governance issues with Chairman Leslie Buckley. It is also reported that Michael Doorly, the Current Company Secretary and Chief Risk Officer at INM, will take over as Interim Chief Executive.
According to Goodbody Stockbrokers, "The sudden departure of Robert Pitt increases the level of uncertainty around INM, especially following a profit warning three months ago and the ongoing ODCE investigation. The key from now will be the appointment of a permanent replacement."