has sacked two of its senior executives.

Last night mystery surrounded the departure of CFO Ciaran Horgan and Gary Taylor, GM of the subsidiary company Island Press Ltd.

It is understood the pair, who has been with the companies for around seven years, were dismissed two weeks ago.

Island Press president and CEO Randy French refused to say why the two men had been sacked.

He said: "Island Press (Holdings) Ltd. has terminated the employment of chief financial officer Ciaran Horgan, and also of Gary Taylor, the general manager of Island Press Ltd...

"It is inappropriate to comment further at this time other than to say the company will move forward and continue to provide excellent service to our customers and clients.'' Island Press (Holdings) posted a notice with the Bermuda Stock Exchange yesterday confirming the two men are no longer with the companies.

Neither Mr. Horgan nor Mr. Taylor could be contacted for comment last night.