Independent News & Media has appointed Brett Chenoweth as the new chief executive of APN. He will replace Brendan Hopkins, who will retire at the end of the year.
In addition to the retirement of Mr Hopkins, INM said that Donal Buggy and Cameron O'Reilly will retire from the APN board on December 31, 2010.
INM says its 31.6% shareholding in APN is being de-consolidated with the reduction in the amount of directors on APN's board.
The move comes after pressure from APN investors to 'evolve and develop' its board to reflect its shareholders more.
The media company says that while the changes will not change INM's 31.6% shareholding, it will change things like its earnings growth as APN will now be accounted for as an associate undertaking in the INM group financial statement from next year.
Independent News and Media says it remains committed to APN and says that with the deconsolidation, INM's structure and reporting will be simplified and more transparent.
