Vincent Crowley, the chief executive of Independent News & Media, is in advanced discussions with the company over the terms of his departure.

It is understood that an announcement may be made shortly confirming the exit of Mr Crowley, an IN&M veteran who took over the reins following the exit of former boss Gavin O’Reilly.

Mr Crowley’s IN&M career has spanned several decades, and he was chief operating officer before succeeding Mr O’Reilly.

IN&M said it “does not comment on speculation”.