Belfast Telegraph

AIB board member Kingon steps down in management shake-up

A BELFAST businessman is stepping down from the board of AIB, which last week announced losses of over £9bn.

Stephen Kingon also recently left his post as chairman of Invest Northern Ireland earlier than scheduled to allow his successor to oversee the business support body's new corporate plan. He is a member of the Chartered Accountants Regulatory Board, a former managing partner of Pricewaterhouse Coopers in Northern Ireland and is a fellow of the Institute of Chartered Accountants in Ireland and of the Institute of Business and Management Consultants.

He is a past-president of the Northern Ireland Chamber of Commerce and Industry, and past-chairman of Business in the Community in Northern Ireland, the Ulster Society of Chartered Accountants and the Institute of Management Consulting in Northern Ireland.

Responding to the publication of the Banking Commission report in the Republic of Ireland, by Finnish banking expert Peter Nyberg, AIB said that a fundamental restructuring of the bank is currently taking place. "Although many changes have already taken place at AIB in the last two years, the board has decided that more change is required to enable the bank to focus on the future. This will be addressed in the course of 2011 by further changes at board and senior management level."