SYDNEY: APN News & Media Limited said its chief executive, Brendan Hopkins, has resigned and will leave the company at the end of the year.
In a statement to the Australian Stock Exchange, APN said Hopkins wishes to leave the company and will leave at the end of December.
The Board have appointed
Heidrick & Struggles to search for a suitable successor including
potential internal candidates.
Hopkins has been chief executive of APN since August 2002, having been seconded to that role by Independent News & Media, the Irish media company which owns a 32.3% stake in APN.
Gavin O'Reilly, chairman of APN, said: "Brendan has led the company with energy and skill over the past 8 years and we thank him for his contribution to APN's affairs. We wish Brendan well for the future”.
Hopkins said: "I have thoroughly enjoyed my time as CEO of APN. This is a great Company with a tremendous future. APN has a first class group of people and I thank everyone for their contribution over the past 8 years".
APN is the largest media company in New Zealand, where it owns The New Zealand Herald, the country’s largest newspaper. APN is the largest radio and outdoor advertising operator in Australasia as well as one of Australia’s leading regional publishers.
APN also has interests in Asia, with outdoor companies in Hong Kong and Indonesia.
In November of last year, APN said that the financial crisis had curbed profit, with sales down 14% to $1.03 billion AUD while profit after tax was down 34% at $94.2 million AUD. But, the company said the outlook for 2010 had improved.
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