Tony Howard has been appointed as Independent Newspapers’ deputy executive chairman, the company said on Tuesday.
The position of group CEO would fall away immediately as a result of Howard’s appointment, executive chairman Iqbal Survé said in a statement.
Howard was the company’s CEO for more than 12 years and had managed the company profitably despite a difficult trading and shareholding environment, Surve said.
Howard said: “Independent is very dear to me and I am excited about the changes that are being implemented.
“I look forward to playing an integral part in the change process and its positive outcomes for the company.”
In June last year, Independent News and Media in Ireland confirmed its shareholders had voted in favour of the sale of the media group to Surve’s Sekunjalo Independent Media.
Surve said at the time Sekunjalo Consortium would at all times have control of Independent News & Media South Africa with a number of funding partners sharing in the equity of the company. — (c) 2014 NewsCentral Media