The managing director of Post Publications which publishes the Sunday Business Post, Ms Barbara Nugent, has resigned after 10 years at the company. The group's current general manager, Mr Fiachra O'Riordan, will take over as managing director for a three-month interim period. While the situation will be reviewed at that point, it is believed Mr O'Riordan may fill the position full-time.

Ms Nugent, who received a substantial severance package, has been with the Sunday Business Post since it began a decade ago. Her resignation has been expected and comes less than four months after the newspaper was sold to Thomas Crosbie Holdings, publishers of the Irish Examiner and a number of regional titles. The Cork-based group bought the paper for €10 million from Trinity Mirror in April.

At that time, Ms Nugent was attempting an unsuccessful management buy-out. Yesterday she told The Irish Times she felt it was "time to go". She said after 10 years at the company she hoped she had brought it to a "very strong position". She has made no decision about her future.

One source at the paper said Ms Nugent had not been happy since the takeover by Thomas Crosbie Holdings. "It would have been more surprising if she had stayed," the source said.

Mr Anthony Dinan, managing director of Thomas Crosbie Holdings, said Ms Nugent had played a major role in the evolution of the Sunday Business Post. He said her decision to resign had been an amicable one.