Independent News & Media has appointed Michael Doorly as its new Director and CEO, following the departure of Robert Pitt last week.

Last week INM said Mr Pitt decided to leave the business "to pursue other interests".

It is understood INM made a settlement with Mr Pitt, but the terms of the settlement were not disclosed.

Mr Pitt had been CEO of the company for three years. His salary last year was €404,000.

He was involved in a dispute with INM Chairman Leslie Buckley about a potential takeover of the radio station Newstalk, which is owned by INM's largest shareholder, businessman Denis O'Brien. 

The discussions about a takeover of Newstalk never resulted in a formal proposal to the board of INM but the internal dispute reportedly prompted Mr Pitt to make a whistleblower disclosure to the Office of the Director of Corporate

In March INM confirmed it was complying with a requirement from the ODCE to produce records in relation to the possible acquisition of Newstalk.

INM made two other appointments today, Dr Len O'Hagan as Senior Independent Director and Mary Gallagher as Company Secretary.

Commenting on the announcements, Mr Buckley said: "I am very pleased on behalf of the Board, and the Company, that we are making this important announcement. I wish Len O'Hagan, Michael Doorly and Mary Gallagher every success in their new roles."