O'Reilly quits APN in surprise move

WELLINGTON - Former Wilson & Horton chairman Cameron O'Reilly will step down next June as chief executive of one of Australia's largest newspaper groups, APN News & Media.

Mr O'Reilly's announcement that he and his family intend to return to Europe to pursue private business interests has come as a surprise.

He has been seen as a possible successor to the global media empire run and built by his father, Dr Tony O'Reilly.

Mr O'Reilly became chairman of Wilson & Horton in July last year, but stood down last month, making way for the then deputy chairman John Maasland.

Mr O'Reilly said he would be sad to leave Australia and APN, but was looking forward to returning to Europe after an absence of 12 years.

It is understood that he will be involved in the family's private business interests, the Irish Times reported yesterday.

These include Lockwood, a United States-based fund management group with assets under management of $US6 billion ($11.74 billion).