The O'Reilly Imperative - Gavin and Tony

[dArKeR]

Kevin Bloom

In late 2001Gavin O'Reilly was appointed chief operating officer of Independent News & Media PLC, a newly-created executive position within the media conglomerate's global management structure. It was an appointment that left analysts speculating that the 34-year-old was being formally introduced as heir apparent to the group's Dublin-based throne.

Then in June last year the guesswork got another boost. Patriarch Sir Tony O'Reilly had announced to an annual meeting of Independent News & Media shareholders that he would bow to corporate governance best practice and split his joint chairman and chief executive roles, so the media pundits jumped on the implications. "Gavin O'Reilly…is the red-hot favourite to become the media group's new chief executive officer within the next year," Ireland's Sunday Business Post practically shouted. "The 36-year-old son of executive chairman Tony O'Reilly is said by fund managers and analysts to be a shoo-in for the soon to be created position of chief executive."

Naturally, comparisons with the Murdoch dynasty abound. But whatever bite there may be behind the associations, they are appropriate in at least one important sense. As with James Murdoch, the touted heir to Rupert Murdoch's News Corp., the O'Reilly father is not about to hand the empire keys to an inexperienced son. If Gavin O'Reilly does get the top spot, it will be tough for shareholders - and perhaps even for the notoriously cynical British press - to question his credentials.

http://www.themedia.co.za/article.aspx?articleid=79989&area=/media_insightcover_stories

[lovedems]

1. Well, this explains those "job creation numbers" the chimp has been

touting. "A newly-created executive position within the media conglomerate's global management structure." All the chimps campaign donors are creating postions for RW hacks kids.

No wonder the job creation numbers aren't what they should be. There are only "so many" rich CEO's out there.