Mr Liam Healy is to remain as group chief executive of the Independent Group until at least 2000, according to a statement from the company. It was issued in response to a report in The Irish Times on Saturday which said that prominent accountant, Mr Bernard Somers, had been approached in relation to the position.

The statement from the group indicates that Mr Healy will continue to head the organisation for at least another 18 months. He has occupied the post since 1991, during which time the group has rapidly expanded its international interests and also built up its profitability in the domestic market.

Mr Somers is a successful businessman with his own accountancy practice and is a non-executive director on the Independent board.