Seán Quinn departs Quinn Industrial Holdings Limited

Packaging and construction products group Quinn Industrial Holdings Limited (QIHL) has struck an agreement for its founder Seán Quinn to step down from his job as a consultant to the firm, but it appears to have kept the door open to the involvement of Quinn family members.

QIHL and Seán Quinn separately issued statements yesterday which called time on a strained relationship between the former tycoon and QIHL directors, but which descended into acrimony after Mr Quinn returned as a consultant to the firm just over a year ago.

His departure brings an end to the direct involvement of Mr Quinn with his former sprawling building products-insurance-and property empire. His family lost control of the empire during the crisis.