There was no single reason why Tony O’Reilly, chief executive of Independent News & Media ( INM), had to go. The seeds of the problems at the group which culminated in the exit of O’Reilly, who is to step aside in May, and nine other directors from the board were sown over a long period of time. It is almost a decade since INM’s last major acquisition, when it paid £350 million (€500 million at...
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