Poster Publicity set for MBO after exit of chairman McSharry

The directors of Poster Publicity, the independent outdoor specialist, have completed a management buyout of the company.

The buyout sees the departure of the chairman, Gerry McSharry, who joined Poster Publicity 18 years ago. McSharry's 50 per cent equity in the company transfers to a group of directors led by the chief executive, Eric Newnham.

The other new shareholders are the directors David Tallis, Paul Sharring, Mike Segrue, John Ellery and Colin McKinnon. John Simpson, Poster Publicity's group finance director, Ron Graham, its managing director of Asia-Pacific, and Steve Ridley, the president of US operations, are also part of the buyout team.

McSharry, who left Poster Publicity last week, said he had departed at the right time: "I leave Poster Publicity with only positive thoughts and a great sense of achievement personally and on behalf of the medium."

Newnham said: "The change is very much part of the planned evolution of Poster Publicity. We have always had a policy of inviting key employees on to the board and Gerry's decision to leave has been entirely amicable."

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