Lochlann Quinn to chair ESB board

LOCHLANN Quinn has been appointed chairman of the ESB.

Mr Quinn, a former chairman of AIB, succeeds Tadgh O’Donoghue, who is planning to step down after six years in the post.

Mr Quinn has been appointed by Energy Minister Eamon Ryan for a five-year term. The job comes with fees and benefits of about €69,000.

The 66-year-old is one of Ireland’s most experienced businessmen and is also a former deputy chairman of electrical goods giant Glen Dimplex and is a director of the Smurfit Graduate School at UCD and chairman of the National Gallery of Ireland.

He is one of Ireland’s wealthiest individuals and is reported to have received €200 million when he sold his stake in Glen Dimplex back to founder Martin Naughton in 2004. He is a brother of former Labour party leader Ruairí Quinn.

Mr Ryan said last night that Mr Quinn will bring “unparalleled” experience to the board of the ESB.