Quinn Group board shake-up follows tough year

QUINN Group has announced a shake up of its board so as “to resemble more closely that of a public company”.

The changes do not mean the group — which employs 8,000 in Ireland and Britain —is planning to go public anytime soon, according to company sources.

In a new year letter to staff, group chairman Sean Quinn said despite a tough 2008 the group would — and has — generated cash profits of between €400 million and €500m before exceptional items in each of the three years 2007-2009.