Smurfit steps down as director of travel group

PAPER and packaging tycoon Michael Smurfit has stepped down as a director of the struggling CNG Travel Group.

Dr Smurfit became a non-executive of the Kenmare-based company just before its flotation in mid-2004.

He will be replaced on the board by his son, Michael. Dr Smurfit remains a major shareholder in the company, with a stake of just under 5%.