The company, whose shares have performed well since the refinancing, hopes to make an announcement about a new chairman at the end of the summer.
Although Lord Rees-Mogg, already a non-executive director, has been a leading candidate for some weeks, the recent publicity over his Maastricht campaign appeared to have harmed his chances.
Lord Rees-Mogg himself said the directors wanted to 'get the best possible chairman'. He added that he could easily imagine someone else doing a better job. 'But if such a paragon could not be found, then I would have to think about it.'
Shares in International Business Communications, which were relisted at 90p after the refinancing last month, closed on Friday evening at 139p, up 9p on the day.Reuse content