THE differences between some leading investment managers and the Jefferson Smurfit Group over the role of the group's chairman appear to be moving towards a settlement.

Yesterday, Smurfit finance director, Mr Ray Curran, met Mr John Lawrie, chief investment manager at Scottish Provident Ireland, who had publicly rebuked the company for failing to maintain "best practice".

Mr Lawrie has recently criticised the company for its failure to comply with the Cadbury Code, which recommends the two top corporate posts be separated.

He has also said the remaining three and a half years of Dr Michael Smurfit's 10 year contract are longer than suggested in investment guidelines.

After the meeting, both men insisted it was private and refused to give any details on what was said.

Mr Curran would only say the meeting was "fine and constructive" while Mr Lawrie admitted it was "civil".