Chamber boss got €350k pay-off when he stepped down as IT firm’s MD

THE president of the Limerick Chamber of Commerce Kieran MacSweeney received a pay-off of $460,301 (€347,660) on stepping down as managing director of a Shannon-based IT firm last year.

Documents just returned with the Companies Office confirm Mr MacSweeney received the payment when he stepped down as MD of Avocent International in October of last year.

Mr MacSweeney — who built the Shannon unit up over 14 years — resigned at the age of 52 after Avocent International’s US parent, the Avocent Corporation, was purchased last year by industrial conglomerate Emerson Electric Co in a $1.2 billion purchase.