It will be Mr McCarthy’s first directorship appointment since announcing, in February, his decision to retire from Kerry later this year. He is due to step down as chief executive of the Tralee-based international taste and nutrition/consumer foods giant in September, after nearly 10 years in the top job — after which he will be replaced by Kerry’s Asia-Pacific boss Edmond Scanlon.
Mr McCarthy will join the Ryanair board, in a non-executive director capacity, at the end of this month. His position on the board will be formally voted on by the airline’s shareholders at Ryanair’s AGM in September.
Ryanair chairman David Bonderman was quick to welcome Mr McCarthy’s pending arrival in the airline’s boardroom, saying he will be “a significant and valuable addition to our board”.
A Ryanair spokesman declined to comment on whether the airline is likely to add other high-profile non-executive directors to its board in the coming months. Ryanair’s current non-executive directors include PayPal’s Louise Phelan and former finance and tourism minister Charlie McCreevy.
Although leaving his executive role at Kerry in September, Mr McCarthy will remain on the food group’s board until the end of the year. He has no other directorships, although it is understood he has received a number of approaches since announcing his retirement.