Board changes at APN News & Media

Brett Chenoweth has been appointed as the new Chief Executive Officer of APN News & Media, one of the largest media groups in Australasia, in which Independent News & Media (INM) has a 31.6% shareholding.

Mr Chenoweth, 41, replaces Brendan Hopkins, who will retire on December 31.

He is currently Managing Director and Head of Asia-Pacific for The Silverfern Group, a New York-based specialist merchant bank.

“Brett’s experience in growing content-based businesses will enable APN to accelerate efforts to serve its high value audiences with an expanded range of content and services," said APN Chairman Gavin O'Reilly

"He will also be focused on deploying technology enablers that drive improved returns for marketers eager to reach APN’s audiences on all platforms."

APN also announced the appointment of John Harvey as an independent, non-executive Director from January 1, 2011, and the retirment of Donal Buggy and Cameron O’Reilly from the APN Board on the same date.

INM said that while the changes will have no impact on its shareholding in APN, APN will no longer be consolidated in INM’s Group financial statements.

"INM has a successful association with APN extending back over 20 years and continues to value the exposure to the Australasian economy that its investment in APN gives it," a statement said.

"INM views its shareholding in APN as a strategic and valuable holding and it intends remaining as a key shareholder in APN, committed to growing the APN businesses in a manner that adds value for all APN shareholders."

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