Shareholders in the publisher of the Independent today (26 November) approved the selling of its outdoor business, INM Outdoor, to a private group - a move that rebel shareholder Denis O'Brien had railed against.
Shareholders also voted in favour of the company's planned rights issue as it looks to re-establish itself on a firmer financial footing.
Gavin O'Reilly, group chief executive of IN&M, said: "We are pleased to announce the approval of all of the resolutions relating to our restructuring plans, which can now proceed to final completion."
The group announced that Clarke was stepping down as a non-executive director of the group. He was appointed to the position in 2007.
IN&M has appointed Lothar Lanz, the chief financial officer of Axel Springer, the German publisher, as a non-executive director.
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