Alan Walsh is confirmed as One51 chief
Published 12/11/2011 | 05:00
TROUBLED investment group One51 has confirmed 34-year-old Alan Walsh as chief executive. He becomes one of the youngest chief executives in Irish business.
His succession to the role comes just months after he took on the position on an interim basis following the dramatic removal of former chief executive Philip Lynch by the One51 board in July.
Following a tumultuous 18 months, Mr Walsh said he will continue a two-year strategy aimed at refocusing One51, whose investments include stakes in ferry group Irish Continental and NTR.
Last year One51 lost €105m, largely due to writing down its stake in NTR. In the first six months of this year, One51's operating profit fell 10pc to €16.4m, even as turnover rose 15pc to €218.7m.