INM’s shareholders are due to vote on the addition of four new directors at an EGM, at Dublin’s Conrad Hotel, on Aug 27. As well as Mr Buckley, the group’s management is proposing the election of Triona Mullane; KPMG managing partner, Jerome Kennedy and Len O’Hagan — who chairs the Belfast Harbour Commissioners — to its board.
INM’s board temporarily slipped below the group’s minimum allowable size of five members, in the aftermath of a raft of voting offs and resignations following its June AGM.
Since that meeting, however, the group has added Telegraph Media Group director, Allan Marshall and the Clear Channel Ireland managing director, Terry Buckley, to its board.
Approval of the four extra candidates will boost the size of INM’s board of directors to ten; although six will serve in a non-executive capacity.
The proposed re-election of Mr Buckley underlines the growing strength of businessman, Denis O’Brien at INM. Within the last four months Mr O’Brien has seen off the O’Reilly dynasty and has upped his holding to 29.9%.