Directors quit Anglo ahead of takeover

FIVE non-executive directors announced their resignation from the board of Anglo Irish Bank yesterday, ahead of the Government’s expected formal takeover of the lender later this week.

The bank said Gary McGann, Ned Sullivan, Michael Jacob, Anne Heraty and Noël Harwerth, all on the podium for last Friday’s EGM, were leaving the board.

The first new appointments were also announced last night with recently appointed chairman Donal O’Connor and the two ‘public interest’ board members put forward by the Government as part of its state guarantee scheme — Alan Dukes and Frank Daly — being asked to stay on.