O’Reilly to surrender chair at Indo group

INDEPENDENT News & Media has bowed to investor pressure and separated the roles of chairman and chief executive.

The move will see Tony O'Reilly become chief executive and hand over the role of chairman to the former Fianna Fáil TD Brian Hillery.

Mr Hillery, who represented the Dún Laoghaire/Rathdown constituency and was also a senator, is currently chairman of the exploration firm Providence Resources, in which Mr O'Reilly is the largest shareholder.