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Product Innovation key to INM future success

The INM CEO said pension restructuring would contribute to debt reduction
The INM CEO said pension restructuring would contribute to debt reduction

The chief executive of Independent News & Media has told the company's AGM that product innovation will be the ingredient of its future success.

Vincent Crowley said there was a shift in how news is gathered and collated.

He gave the example of the Anglo Tapes story as a cross platform, cross title story where audio was available on the Independent website alongside the print story.

A new manager of digital activities was among a number of high profile appointments at the group in recent months.

Today's AGM heard that INM's net debt in 2012 was €422m.

Vincent Crowley said forthcoming financial plans including a restructuring of the group's pension scheme and a €40m capital raise which will see a reduction in debt to €118m.