APN News and Media Ltd
(ASX:APN) has announced CEO Brendan Hopkins will leave the company, 12 months before his current contract expires.
Mr Hopkins has been CEO of the company since August 2002 and will leave by the end of December.
According to The Australian Financial Review, Mr Hopkins has refuted speculation that his unexpected departure has been instigated by institutional shareholders wishing for board changes.
Mr Hopkins told AFR that this had nothing to do with his decision, and that he feels now is a good time for him to resign as APN News and Media is in good shape.
The board has appointed recruitment firm Heidrick & Struggles to search for a suitable successor, including potential internal candidates.
APN News and Media posted a profit of $92.63 million for the year ending 30 December 2009.
