Martin Naughton, and his wife Carmel hailed for their philanthropic endeavours

One of Ireland’s wealthiest businessmen, Martin Naughton, and his wife Carmel were named Philanthropists of the Year by the Community Foundation of Ireland yesterday.

However, the couple, who won the award for their “significant and strategic” philanthropic investment in many areas of Irish life declined to talk about the honour.

Mr Naughton, who was born in Dundalk, Co Louth, founded Glen Electric, now the Glen Dimplex Group, the world’s largest manufacturer of domestic heating appliances.