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RPT-Independent News calls meeting to oust CEO of Australia's APN
February 17, 2013 / 8:25 PM / 5 years ago

RPT-Independent News calls meeting to oust CEO of Australia's APN

DUBLIN, Feb 15 (Reuters) - Independent News & Media (INM) has called an extraordinary general meeting of Australian media group APN in order to remove Chief Executive Brett Chenoweth from its board of directors, the Irish publisher said in a statement on Friday.

INM, which holds a 28.95 percent stake in APN, on Thursday said it had “lost confidence” in Chenoweth’s ability to run the company, which includes operations in Australia, New Zealand and Hong Kong, and called on him to quit.

Chenoweth has been CEO of APN News & Media since January 2011. The firm owns a host of radio stations and newspapers across Australia and New Zealand, including the New Zealand Herald.

INM also wants to replace Melinda Conrad, John Harvey, Peter Hunt, Kevin Luscombe and John Maasland on APN’s board in a bid to help “restore value”, the statement said.

Independent News & Media has taken steps to restructure in recent years, including the sale of its flagship UK title the Independent, in an effort to tackle high levels of debt and tough trading.

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