Board changes at Quinn as prominent members step down
The Quinn Group’s shareholder board is now entirely made up of Quinn family members and staffers after a series of boardroom manoeuvers.
Documents lodged with the Companies House in Dublin show that two prominent independent directors — former Glanbia plc boss Pat O'Neill and former senior civil servant Brendan Tuohy — stepped down from the shareholder board on April 28.
The duo had been appointed to the board of Quinn Group (ROI) amid much fanfare in March 2009, after the family-owned business vowed to organise itself more like a plc.
Their fellow Quinn Group (ROI) director Paddy Murphy, a prominent former banker, has also resigned his board seat, as has executive Liam McCaffrey.
After the departures, the Quinn shareholder board is left with five members — founder Sean Quinn, his wife Patricia Quinn, senior Quinn executives Kevin Lunney and Dara O'Reilly, as well as former Quinn executive David Mackey, who has just recently joined the board.
The group said the reorganisation had been made to “effect the separation of the personal interests of the Quinn family from those of Quinn Group Limited”.
The company’s subsidiary Quinn Insurance has been in administration since April, and is expected to be sold in coming months.