No decision on new ESB chairman as O’Donoghue’s term comes to an end

NO decision has been made by the Government to appoint an ESB chairman as Tadgh O’Donoghue’s time at the helm of the company ends on Monday.

Mr O’Donoghue has been chairman of the electricity giant for a year, and is believed to be prepared to serve another term if asked by Communications &Minister Noel Dempsey.

While holding off on the re-appointment of Mr O’Donoghue or choosing a new chairman will have no impact on the running of the company, it will not help to have a vital post vacant during the Government’s review of the energy market in Ireland.

The post does not carry a huge salary, around €63,000 a year plus expenses, but is one the most prestigious as the ESB is the largest semi-state company.

One option for Minister Dempsey would be re-appointing Mr O’Donoghue on an interim basis.

The current chairman, a former senior partner with PriceWaterhouseCoopers, has extensive experience in the semi-state sector, having been chairman of Bord Iascaigh Mhara.

Under Mr O’Donoghue, ESB has seen profits surge to record levels, though he has courted controversy.

Earlier this year, a row between Mr O’Donoghue and ESB’s deputy chairman Joe LeCumbre broke out.

Mr LeCumbre, a worker-director, claimed he had been sidelined by Mr O’Donoghue when he was not given permission to preside over meetings in the chairman’s absence.

The ESB has a busy period coming up with the review of the energy market ongoing.

This will eventually decide the future of the company and possibly privatisation of some parts of the business.

It will also have to deal with €500 million deficit in the staff pension fund.