O’Reilly payout sparks INM row

Denis O’Brien’s representatives on the board of Independent News & Media are understood to be reviewing the issue of Gavin O’Reilly’s severance package from the group.

In an embarrassing U-turn yesterday, INM had to admit it had been wrong in announcing that both votes at the group’s Thursday board meeting — namely regarding the appointment of Vincent Crowley as chief executive and the terms of Mr O’Reilly’s exit package — were unanimous.

While the entire board did vote in favour of Mr Crowley becoming the new chief executive, Paul Connolly and Lucy Gaffney — Denis O’Brien’s two remaining representatives on the board — voted against the terms of Mr O’Reilly’s pay-off, the details of which are unknown.