AIB announces board and executive appointments
(Thomson Reuters ONE) - For Immediate Release 18th November 2009 AIB announces board and executive appointmentsAllied Irish Banks, p.l.c. ("AIB") [NYSE:AIB] has today announced thefollowing appointments:-Dan O'Connor, currently Non-Executive Chairman of AIB, is to take onthe role of Executive Chairman on a temporary basis in order tooversee the Group's work on the completion of the key tasks ofcapital raising, the implementation of NAMA and the EU restructuringplan.Colm Doherty, formerly Managing Director, AIB Capital Markets, hasbeen appointed AIB Group Managing Director. Mr. Doherty will take uphis new role as Group Managing Director with immediate effect. MrDoherty will be responsible for the day to day running of the Group.He has agreed to take up his new role for a salary of ?500k. Hiscontractual remuneration package will therefore be considerably lowerthan applied in the past to the Chief Executive Officer role, orindeed to Mr. Doherty's previous role in AIB, reflecting his personalcommitment to the Bank and its future.AIB Group Chief Executive, Eugene Sheehy, is to retire on 30November.These appointments are part of a wider series of management changeswith the emphasis on attracting new external talent. This willdeliver the vital combination of internal and external experience andperspective necessary to ensure that AIB's culture, structure andmanagement team is ideally equipped to lead the Group through thiscritical period.These include:-Dr Michael Somers, Chief Executive of The National TreasuryManagement Agency, will be appointed to the AIB Board as DeputyChairman. He will also Chair the AIB Board Risk Committee. Dr Somerswill take up his new post on completion of the Regulatory approvalprocess. David Pritchard, currently AIB Deputy Chairman, is to stepdown from that post. The Board would like to express their thanks toMr. Pritchard who will be retaining his role as Senior IndependentDirector.The key Executive functions of Group Finance Director and Group ChiefRisk Officer are also to be filled by external appointments.Following the finalisation of NAMA and the EU restructuring plan(expected in mid-2010), the AIB Board, Executive Chairman and GroupManaging Director, in consultation with the Minister for Finance andother stakeholders, will conduct an assessment of the AIB GroupManagement structure. The purpose of this will be to determinewhether the management format announced today remains relevant to thechallenges and requirements of the new environment. - Ends -For further information please contact:Alan KellyGeneral Manager, Group FinanceAIB GroupDublin 4Tel: +353-1-641 2162orCatherine BurkeHead of Corporate RelationsAIB GroupDublin 4Tel: +353 1 6413894This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 18.11.2009 - 11:59 Uhr
Sprache: Deutsch
News-ID 8564
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