The Minister for Finance Michael Noonan TD., met Mr Richard Pym, the Chairman of Allied Irish Banks Plc earlier today. At the meeting the Minister discussed the Board of AIB’s plan to recruit a new Group Chief Executive Officer (CEO) for the bank following the resignation of Mr David Duffy in recent days.
Commenting on the meeting the Minister said:
“Following the announcement of the resignation of Mr. David Duffy on Monday, the attention and focus of AIB must now turn to recruiting a new Chief Executive Officer. At today’s meeting, Mr Pym and I agreed that it is in AIB’s best interest that the process to recruit a new Chief Executive would begin without delay with a view to having someone with the calibre, skills and drive to lead AIB in place as soon as possible.
The Chairman informed me that this task has already commenced and that AIB will be working with a recruitment firm to assist with the Board’s assessment and selection process. Mr Pym has also agreed to keep me updated as the selection process develops with a view to being in a position to recommend a new Chief Executive to me within the coming months.”
“While this process is underway Mr Pym assured me that AIB would continue to drive forward with its plans and highlighted the strengths of the management team that is now in place. My officials and their advisor Goldman Sachs International, will continue to work with the bank’s management team on developing our plans to restructure its capital base and lay out a roadmap that will see AIB begin to return cash to the State.”.
ENDS
21 January 2015
