IDA Ireland chief Martin Shanahan has tendered his resignation to the agency and will serve a period of gardening leave starting on October 26th.
The CEO had notified of his intent to step down from the function after eight years in July of this year, with his departure expected in early 2023.
In a statement, the IDA stated “The Board of IDA Ireland has actually appointed Mary Buckley as interim CEO effective from 26thOctober 2022.
“A worldwide competitors to fill the function of CEO of IDA Ireland will commence immediately.”
Frank Ryan, chairman of the board at IDA thanked Mr Shanahan for his service, stating “Martin has actually guided IDA through a few of the most hard difficulties that it has actually dealt with in its history, from driving financial healing to worldwide tax modifications, the withdrawal of the UK from the European Union, a worldwide pandemic and more recent worldwide geopolitical and economic obstacles.
“The Board of IDA, colleagues and I want him every success in the future.”
Present Executive Director at IDA, Mary Buckley has actually been with the agency given that 2015 and belongs to the Executive Management group.
She “brings with her substantial organisational experience, having formerly held a number of management positions Overseas, at HQ Dublin, and Regional locations for IDA Ireland.”
Shanahan’s yearly remuneration was EUR193,500.
Frank Ryan, Chairman of theBoard, IDA Ireland, Mary Buckley, Executive Director, IDA Ireland, Tánaiste and Minister for Business, Trade and Work, Leo Varadkar and Martin Shanahan. Photo: Maxwells
IDA Ireland got EUR200m in taxpayer funding in 2021, plus EUR3m from the National Training Fund.
The firm paid out EUR98.5 m to multinationals with operations in Ireland and invested EUR49m on commercial property.
Company overheads increased EUR10m year-on-year to EUR63m, with the personnel salary cost leaving out employer’s PRSI amounting to EUR27.3 m. The typical salary for 328 IDA personnel through 2021 was EUR83,200.