Moving up and moving on: Who’s new in leadership at Ireland’s top companies

Top 1000 Companies: Continuity has mostly been the order of the day at corporate Ireland’s top table but there have been some significant changes this year, writes Frank Dillon

Albert Manifold, former chief executive of CRH, and Jim Mintern, who took over in January, having previously been the company's CFO
Albert Manifold, former chief executive of CRH, and Jim Mintern, who took over in January, having previously been the company's CFO

The biggest leadership move in corporate Ireland during the past year was at CRH, where Albert Manifold was replaced as chief executive by Jim Mintern in another of the smoothly organised leadership successions that the building materials giant is noted for.

Mintern is a 22-year veteran of the company and previously served as chief financial officer. CRH’s share price has benefited significantly since it quit the Iseq for a primary New York exchange listing and if various performance targets set by the board are met, including a further rise in its stock price, the new chief executive could receive a package worth $14.8 million (€12.7 million) this year.

Mintern is one of only a few movers in the past 12 months at the top of corporate Ireland, where continuity has been the order of the day.

Among the others, Akshaya Bhargava became the new chairman of Bank of Ireland, replacing Patrick Kennedy, who retired from the role after six years, having served on the board for 14 years. Bhargava previously held senior positions at State Street and Citibank, among others.

There were several other significant appointments at Bank of Ireland Group over the past 12 months: Tadgh Clandillon become managing director at its life business subsidiary, New Ireland; John Feeney became chief executive of corporate and commercial banking; and Gavin Kelly became chief executive of Davy & Wealth, and executive director of the Davy board.

Kerry Group announced a significant shake-up in its top management team with a new president and chief executive for North America, John Cahalane, succeeding Oliver Kelly who took the position of chief commercial officer of the group. Peter Dillane, meanwhile, was named president and chief executive of Kerry Asia Pacific, the Middle East and Africa. The appointments coincided with the planned retirement of Malcolm Sheil after a 36-year career spanning several continents at Kerry which has seen him hold the roles of group chief commercial officer, chief executive of Kerry Europe, and chief executive of Latin America, among others.

David Keyes became the new managing director at United Drug in April, having previously served as the director of United Drug Distributions and head of public affairs for PHX Ireland. In his previous position he played a key role in the development of the organisation’s pan-European commercial strategy. Keyes joined United Drug in 2012.

Over at drinks group Diageo Ireland, Louise Ryan took the helm from Barry O’Sullivan following his departure to become chief executive of the group’s British division. A Dublin native, Ryan has held various senior roles in the food and drinks sector and joins from Pernod Ricard where she served as managing director of its Nordics business.

Those appointments were followed in July by the departure of group chief executive Debra Crew after two years in charge.

Outgoing KPMG managing partner Seamus Hand congratulates his successor Ryan McCarthy. Photograph: Fran Veale/Julien Behal Photography
Outgoing KPMG managing partner Seamus Hand congratulates his successor Ryan McCarthy. Photograph: Fran Veale/Julien Behal Photography

Among the more notable moves in the professional services sector, Ryan McCarthy was elected as the new managing partner at KPMG Ireland, taking the reins in May. He succeeded Seamus Hand who had served two consecutive terms from 2018.

Also in the professional services space, former tánaiste and minister for foreign affairs Simon Coveney joined EY as a consultant in its geopolitical strategy unit in April. Meanwhile, on the other side of the Atlantic, his former boss Leo Varadkar joined the global advisory board of international PR firm Penta and the board of the Institute of International and European Affairs (IIEA).

Jenny Melia, Enterprise Ireland's new chief executive. Photograph: Shane O'Neill/Coalesce
Jenny Melia, Enterprise Ireland's new chief executive. Photograph: Shane O'Neill/Coalesce

Public sector

There was significant movement in the leadership of the public sector. Jenny Melia became the new chief executive at Enterprise Ireland this summer. Melia is a 29-year veteran of the state-sponsored body, with previous roles including executive director. A UCD graduate with a BSc and PhD in chemistry, she has worked extensively with client companies across a variety of sectors in her time at the agency.

Former Fyffes corporate affairs director Ann Duffy was appointed as chairperson of the Financial Services and Pensions Council in June.

In another big change in the public service during the summer, Michael Carey stepped down as chair of both Enterprise Ireland and the Housing Agency. The move followed reports that his company East Coast Bakehouse has been late in filing accounts to the Companies Office. Carey explained that he took the decision to resign to avoid embarrassment to the two ministers he reported to. He had previously served as chairman of Bord Bia.

Diarmuid O’Brien became chief executive of Research Ireland, the body set up following the amalgamation of Science Foundation Ireland and the Irish Research Council last year. In March, meanwhile, Mark Jordan took the helm at Skillnet Ireland, the national workforce development agency. Lorcan O’Connor became chief executive of Transport Infrastructure Ireland this year, having left his post as group chief executive of CIE, succeeding Peter Walsh. O’Connor was the inaugural chief executive of the Insolvency Service of Ireland.

Another significant departure from a State-sponsored body was Paul Kelly, who announced he was stepping down as chief executive of tourism body Fáilte Ireland to head the Royal Dublin Society (RDS). Kelly is the second boss of a State-sponsored body to make the move to Ballsbridge. Former Bord Bia chief executive Michael Duffy had a 16-year tenure as head of the RDS, spearheading a period of rapid expansion and development for the organisation, before retiring in 2020.

Another membership organisation with a new chief executive is Chartered Accountants Ireland, with Rosemary Keogh taking over, while Charley Stoney, chief executive of advertising industry body IAPI since 2018, made the move to Brussels at the start of this year to head the European Association of Communications Agencies, the body that represents the commercial communications industry in Europe. Martina Byrne, chief executive of the Public Relations Institute of Ireland since 2017, also stepped down from her role this summer.

Gender imbalance

Despite progress over recent years, the past 12 months or so have seen a fall in the proportion of women at the top of big Irish organisations. According to the latest report of the Balance for Better Business Review Group (B4BB), published in February, the proportion of women on the leadership teams of Iseq20 companies fell from 27 per cent to 24 per cent.

In the period under review, there were two women chairs and four women CFOs across the listed companies and no women chief executives, following the departure of Glanbia’s Siobhán Talbot and that of Margaret Sweeney from Irish Residential Properties REIT.

Turning to the subject of chief executive tenure, there has been a global trend for shorter terms as chief executive, which is also generally reflected in Ireland. According to the Global CEO turnover Index, as measured by Russell Reynolds Associates, the average tenure for an outgoing chief executive fell to 6.8 years in the first half of 2025, down from 7.7 years during the same period in 2024. This is the lowest period of tenure since the organisation began tracking this figure in 2018.

According to Russell Reynolds, the decline in tenure may be attributed to a heightened degree of stakeholder scrutiny of chief executives as well as the need for continuous business transformation set against a volatile business background, making the role increasingly challenging to sustain.

Another interesting finding from the organisation’s research is that in the first half of 2025, 76 per cent of incoming chief executives were internal appointments, demonstrating that organisations are focused on developing their own talent and addressing any potential leadership gaps.

There are two sides to the debate about senior management tenure. The benefits of long experience and intimate knowledge of an organisation and its varied stakeholders speak for themselves. Conversely, an overly long tenure from those occupying the key spots in the C-suite can block the career paths of talented people who make take their services elsewhere in the belief that they will never progress where they are.

Complacency and hubris are also dangers, with incumbents believing in their own infallibility and relying on existing relationships and practices when more flexible and dynamic strategies are required to face the challenges of a changing business environment.

That said, some of the most successful business organisations are led by those with lengthy records at the top. Who would argue with Warren Buffett’s six-decade tenure at Berkshire Hathaway or Jamie Dimon’s near 20-year reign at JP Morgan Chase?

Corporate Ireland has its fair share of long-tenured bosses. Examples include Michael O’Leary, who has led Ryanair since 1994, Gene Murtagh, who has just celebrated 20 years as boss of Kingspan, and Eamonn Rothwell, who has led Irish Continental since 1992.

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