Sir Anthony to retire as CEO

Sir Anthony O'Reilly announced yesterday that he intends to retire as chief executive of Independent News & Media, the largest shareholder in Herald publisher APN News & Media.

Sir Anthony, who has been involved with INM for 36 years, said he would retire on May 7, his 73rd birthday. Sir Anthony is the company's largest shareholder, with a 28.6 per cent stake.

The INM group, with interests in 22 countries, publishes more than 200 newspapers and magazines including the Independent in Britain and 17 daily and weekly newspapers in South Africa.

Sir Anthony, a former British Lions rugby player, is a former chairman, president and chief executive officer of H.J. Heinz and former chairman of Waterford Wedgwood.