'It's time to move on': The chairman of Eir is set to step down
Padraig McManus said that he intends to resign from his role later this year.
PADRAIG MCMANUS, THE chairman of Eir, has announced that he is stepping down from his role later this year.
Eir announced the move after McManus informed the board of the company of his intentions.
McManus, who joined the telecommunications group at the end of 2012, said that he wanted to thank the shareholders, the Eir board and the staff “for their passion”.
“In the past five years Eir has redrawn the fibre map in Ireland and has made many positive contributions to our economy,” he said.
He cited the company’s plans to roll out one gigabit broadband connectivity to 300,000 premises in Ireland.
“I believe the company is well positioned to continue to grow and prosper in the future,” he added.
Padraig McManus
Asked why McManus is stepping down, an Eir spokesman said: “Padraig has been here for just under five years, roughly enough the same timeframe for the previous chair.
“He has achieved a huge amount, (but) he has served his time and is moving on.”
Eir chief executive Richard Moat said: “On behalf of the entire company, I want to thank Padraig for his many contributions during his time as chairman.
“It has been a pleasure to work alongside him for the past five years and we wish him the very best.”
ESB
McManus, who turned 66 a few months ago, was involved in the company’s recent agreement with the government to provide fast broadband to 300,000 premises.
These homes and businesses were previously part of the National Broadband Plan, however they have now been fast-tracked under the new agreement.
McManus is probably best-known for leading ESB, the company that he worked with for almost four decades.
He held several senior posts in the semi-state before being appointed as CEO in 2002.
McManus was the CEO of the ESB
He served as the head of the company for almost a decade, leaving in 2011.
His departure proved controversial, as it emerged in 2012 that he was getting a lump sum of about €600,000 on top of an annual pension of about €200,000.
This was one of the highest severance packages recorded in the public sector at the time, and caused some anger among a public in the trough of the recession.
As well as his roles in Eir and the ESB, McManus also served as the chairman of the Curragh Racecourse and is the current president of the ESRI Council.
