O’Brien calls for Independent EGM

Businessman Denis O'Brien is calling for a major shake-up at Independent News and Media.

The 26% shareholder has said Chairman Brian Hillery should be removed and the annual payment of €300,000 paid to Tony O'Reilly should be stopped.

Mr. O'Brien has called for the London-based Independent and the Independent on Sunday to be sold or closed with the London executive office closed and its operations moved to Dublin.

Mr. O'Brien said the measures should be put to an extraordinary general meeting of shareholders and detailed expenses paid to board members since 2000 should be prepared by independent accountants.