29 Sep 2009

Fairfax chairman quits

7:03 am on 29 September 2009

Fairfax Media chairman Ron Walker has quit - ending a bitter public row with key investors in Australia.

The ABC reports Mr Walker has reversed his decision to seek re-election at the company's annual general meeting in November.

The announcement followed a public battle with members of the Fairfax family over his position as the head of the board.

Mr Walker has chaired the Fairfax board since 2005.

His initial intention to stay on for part of another term, enraged John B Fairfax who publicly criticised Mr Walker's time as chairman, pointing to what he called debt-funded expansion.

Fairfax shares closed nearly 3 cents lower afterwards.