Independent News &Media announces new CFO

CHARLIE TAYLOR

Independent News and Media has announced the appointment of Ryan Preston as its new group chief financial officer in place of Eamonn O'Kennedy.

Mr Preston, who will take up the new role in December, joins the group from Tesco, where he currently holds the role of European group finance director.

A native of Belfast, Mr Preston (41) holds a BA (Hons) in Accounting from the University of Ulster. Having worked in Stewarts Supermarkets, he joined Tesco in 1997 after the company's acquisition of the group. Mr Preston then held senior financial positions in operations, clothing and homeware, and distribution and supply chain management. He became chief financial officer of Tesco Ireland in 2010 and in 2013 was promoted to group finance director for Tesco Europe.

Mr O’Kennedy is leaving Independent News and Media after more than 15 years to pursue other interests.

INM chairman Leslie Buckley paid tribute to Mr O'Kennedy for his contribution to the company over the years.

Welcoming Mr Preston's appointment, Mr Buckley said: "I am delighted we are in a position to attract someone of Ryan's calibre to INM."

Mr Preston is the second leading figure to join INM from Tesco. Robert Pitt, who is to replace Vincent Crowley as the new chief executive of the group next month, was most recently chief operations officer at Tesco in the Czech Republic.