Under fire One51 chief wins reprieve

UNDER scrutiny One51 chief executive Philip Lynch has eased the mounting pressure on his leadership of the investment group, by securing the backing of former dissident John Hegarty.

In February, Mr Hegarty, a Limerick businessman, put his shares in the business up for sale in what was seen as the start of a damaging spat between himself and Mr Lynch, to whom he had previously sold his recycling business.

Some believed Mr Hegarty to be the real driving force for demand for change that surfaced so publicly at last week’s AGM in Dublin’s Shelbourne hotel.