One51 chief executive Lynch sacked

PHILIP Lynch has been sacked as chief executive of investment group One51, with the board moving quickly to appoint financial officer Alan Walsh as his interim replacement.

In a short statement, the One51 board said it had been considering succession planning “for some time”.

“As part of that process, the board announces, with regret, that Philip Lynch’s appointment as chief executive will cease with immediate effect,” it said. “The board is now commencing a recruitment process for a new chief executive to continue the development of the company.”