Arnotts board replaces Cooney
Published 23/10/2011 | 05:00
Enterprise Ireland boss Hugh Cooney was asked to step aside as chairman of the Arnotts pension fund earlier this month, the Sunday Independent has learned.
Cooney, who is also a director of Origin Enterprises and Siteserv, was asked to step aside to allow Tom Casey, a US businessman, replace him as chairman "to bring fresh thinking" to the pension fund board, said an Arnotts spokesman. The decision to replace Cooney was made by the Arnotts board, he added.
"The company and trustees acknowledge and thank Mr Cooney for the contribution he made to the pension fund while chairman," said the spokesman. "The appointment of Mr Casey is timely as the company and trustees are continuing to review the pension fund into the future."
Attempts to reach Mr Cooney were unsuccessful.
Mr Casey met the trustees of the pension fund last week for the first time in his new role. He is a founder of the consultants Discussion Partner Collaborative.
The Arnotts pension fund has been under review for some time due to concerns about its financial health.
Sunday Indo Business