Irish Life CEO put off retirement plan over potential sale

Irish Life Group Ltd chief Kevin Murphy postponed his plans to retire at the end of 2012 as the Government revived talks to sell the state-owned insurer to Canada’s Great-West Lifeco Inc.

Mr Murphy agreed to delay stepping down “for some months pending the appointment of a successor”, according to Ray Gordon, a spokesman for Irish Life.

“That matter is expected to be resolved in the coming months,” he said, declining to comment on the sale process.