APN News and Media Ltd Chairperson, Gavin O'Reilly has spoken in defense of the performance of the trans-Tasman media group's board and states that those, who recommend seeing a change, are using megaphone or opportunistic strategies.
Mr. O'Reilly told shareholders at the firm's yearly general conference in Sydney on Friday about the performance of APN, both in relation and fixed terms, which contrasted favorably with other media corporations.
While addressing the matter, he said that share price of the corporation has not performed at its best on its own. It is the hard work of the strategic input that came from the directors, who are responsible of making the positive contribution in the success of the company.
Corporate governance advisers of RiskMetrics have shown fears regarding the firm's 10-person panel, mainly the number of directors with associations to APN's major shareholder Independent News and Media.
Mr. O'Reilly told that there had been five new directors brought in the firm, over the past two years, with the size of the board lessened from 13 to 10, and yet the panel remained fully dedicated to unending board alteration.