'Independent' directors appointed Newspaper Publishing directors
Friday 25 March 1994
This follows the acquisition of a controlling interest by the consortium comprising two of the company's existing shareholders, Espresso and Prisa, and Mirror Group Newspapers, together with the founding directors.
Earlier this week the consortium's all-cash offer for the ordinary share capital of Newspaper Publishing was declared unconditional in all respects.
At a board meeting yesterday morning resignations as directors were received from Ian Hay Davison, chairman, from Patrick Morrissey, chief executive, and from Sir Kit McMahon, Graham Luff, Stephan Conaway, Adrian O'Neill, Matthew Symonds and Suzanna Taverne.
Four new directors were appointed: Marco Benedetto, Javier Diez de Polanco, David Montgomery and Cornel Riklin.
The appointment of Mr Montgomery and Mr Riklin will be formally ratified by the board of MGN. Andreas Whittam Smith, founder of the newspapers, was elected chairman.
The other directors who remain on the board are Carlo Caracciolo and Juan Luis Cebrian.
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