The CEO of Independent News and Media, Vincent Crowley, will stand down in May.

In a statement this evening the company said the decision was reached by mutual consent.

The selection process for a new candidate will begin immediately.

Vincent Crowley joined INM in 1990 and was appointed Group CEO in April 2012.

INMÂ’'s annual results for 2013 will be published in two weeks time and are expected to be in line with market expectations.