New UTV chair after bust-up over investment
THE BOARD of UTV Media, the group that owns TalkSport Radio, was thrown into disarray yesterday as three directors quit over a row about the chairman’s supposed closeness to a major shareholder.
UTV said a majority of the board’s members no longer considered it appropriate for John B McGuckian to continue in his role as chairman. He is being replaced on a temporary basis by non-executive director Helen Kirkpatrick (pictured).
The decision was taken due to McGuckian’s links with TVC Holdings, a Dublin-based investment company with an 18 per cent stake in UTV, which some members of the board felt compromised his independence.
TVC also announced that Shane Reihill, executive chairman of TVC, has resigned as a non-executive director of UTV Media with immediate effect.
The decision to remove McGuckian as chairman was bitterly opposed by senior independent director Kevin Lagan.