APN had spoken about overhauling the board earlier this year, but Hopkins said that his decision to move on was personal. He said the time was right for a new chief executive after the company had weathered the financial storm of 2008-09.

His resignation comes after a meeting in May where shareholders complained of the ties the board had to its parent group Independent News & Media. Hopkins, who still had a year left on his contract, came to the role at APN from Independent News & Media.

In a statement to the Australian Stock Exchange, Gavin O’Reilly, chairman of APN said, “Brendan has led the company with energy and skill over the past eight years and we thank him for his contribution to APN’s affairs. We wish Brendan well for the future.”

APN has appointed a company to find a replacement for Hopkins, who will not return to Independent News & Media.

In the statement, Hopkins said he is proud of the developments he had overseen at APN since 2002, and that APN had acted prudently in the lead up to the global financial crisis and had weathered the downturn well. He concluded, “The board has always encouraged management to look before we leap and that’s stood us in very good stead.”

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