Top AIB board members to step down

The three top executives at Allied Irish Banks are to step down, it emerged today.

Group chairman Dermot Gleeson is to stand down in July after six years at the helm and will be succeeded by Dan O'Connor, who joined the AIB board in 2007.

A new position of deputy chairman will be filled by board member David Prichard on May 14.

AIB also said group chief executive Eugene Sheehy is stepping down but will continue in his role until his successor is appointed in coming months.

Group finance director John O'Donnell also announced he is to retire in August.

"The process to identify and appoint successors for both Mr Sheehy and Mr O'Donnell will consider both external and internal candidates for the positions," an AIB spokesman said.

"AIB has consulted with the Minister for Finance and the minister has conveyed his good wishes to the new chairman and deputy chairman," added the spokesman.

Incoming chairman Mr O'Connor, 49, was chairman of AIB's Audit Committee. He is a former president and CEO of GE Consumer Finance Europe.

AIB is to hold its AGM on May 13.

More on this topic

AIB full-year losses narrow to €1.7bnAIB full-year losses narrow to €1.7bn

Publican asks judge to liquidate AIBPublican asks judge to liquidate AIB

AIB to increase chargesAIB to increase charges

AIB 'on track for return to operating profit'AIB 'on track for return to operating profit'

More in this Section

Protesters climb onto North Sea oil platformsProtesters climb onto North Sea oil platforms

German exports to UK drop again in first seven months of 2019German exports to UK drop again in first seven months of 2019

Businesses on both sides of Irish border ‘already affected by Brexit’Businesses on both sides of Irish border ‘already affected by Brexit’

US Economists back spending moreUS Economists back spending more


Lifestyle

Helen O’Callaghan says we are the least strict in all of Europe.Praise over punishment: Irish parents least strict in Europe - study

Kya deLongchamps detects a hint of rebellion behind the ritual of afternoon tea.Vintage View: English tradition of afternoon tea won't exit with Brexit

Friends and Young Offenders actors Shane Casey and Dominic MacHale speak to Pat Fitzpatrick about struggling to make it but why they are not seeking out fame.‘I was down to a euro’ - The Young Offenders actors tell of struggle to make it in acting

Gerry Fitzgerald runs Bandon Books Plus in Riverview Shopping Centre, Bandon, Co Cork.We Sell Books: Turning over a new leaf from bank to bookshop in Bandon

More From The Irish Examiner