A DIRECTOR of one of the State's biggest public relations firms, Murray Consultants, has taken a legal action against its four other directors disputing the value of his share holding. The director, Mr Terence Horgan, is understood to be also objecting to proposed changes in the day-to-day running of the firm's business.
Mr Horgan (60), the director of finance and personnel at Murray's, has taken a High Court action against his fellow directors, Mr Joe Murray, Mr Jim Milton, Mr Dermot Breen and Mr James Morrissey.
The controversy is believed to centre on proposals to restructure the business, which Mr Horgan opposed.
The other four directors each head up separate executive teams which independently handle accounts for its clients. These teams are supported by Mr Horgan's unit. Under the proposals, the tour directors want to give their teams greater responsibility for their own costs and budgets, which they believe will bring greater efficiency.
Following his objections, the four directors are understood to have made an attempt to agree a price at which he could sell his shares. The directors also offered to participate in a binding arbitration to independently value Mr Horgan's shareholding. However, this was rejected.