Casey resigns from Irish Life & Permanent

[newsroom]

The Chief Executive of Irish Life & Permanent plc, Denis Casey, has informed the Board of the Company that he wishes to resign from the Group.

Denis has agreed to remain as Acting Group Chief Executive for a transition period to assist the Board and the Group which is beginning a process of identifying, recruiting and bedding in a suitable successor.

In informing the Board of his decision, Denis thanked the Board for their support. However he said that having reflected on the situation with his wife and family overnight and again this morning, he had come to the decision that regardless of the Board’s support, his continued involvement with the Group would only serve as a distraction from the Group’s efforts to successfully navigate the difficult challenges of today’s market.

The Chairman of the Board, Gillian Bowler, said that she accepted the notification of resignation with the “utmost regret”. She said; “Denis Casey is a man of the highest integrity and honour. I have always held him in the highest regard as a colleague and as a friend and I know that his decision today – as always – has been prompted by his dedication and loyalty to the company.”

The Chairman indicated that the Board would immediately proceed to seek a successor for Mr. Casey. In the meantime, the Chairman indicated that she would work closely with Denis and the Group’s senior management team to support the Group’s progress over the coming months and will chair the weekly Management Meeting.

In addition she will chair a committee of non Executive Directors which is being established immediately to oversee a competition for the recruitment of a new Chief Executive. This committee will comprise Danuta Grey, Breffni Byrne, Liam O’Reilly, Margaret Hayes and Ray MacSharry.