‘No need for O’Brien-INM hostilities’
A number of proxy advisory agencies had called for shareholders to vote against Mr Buckley’s re-election amid concerns that Denis O’Brien — the group’s single biggest shareholder — had too much representation on the board. Duly, at the group’s annual general meeting, yesterday, Mr Buckley was voted off by 58% to 42%.
In a strongly worded statement, Mr Buckley said he accepted the decision, but accused Gavin O’Reilly of supporting the vote. “It now appears that the chief executive was actively canvassing company shareholders to vote against my re-election. This is bizarre behaviour to say the least. I have no doubt that the chairman (Dr Brian Hillery) was aware of this activity, yet declined to stop it. I believe that both the CEO and chairman should now consider their positions,” Mr Buckley said.
