Wednesday 20 November 2019

AIB chairman to step down next year

Richard Pym will step down as chairman of AIB next year Photo: Shane O’Neill, SON Photographic
Richard Pym will step down as chairman of AIB next year Photo: Shane O’Neill, SON Photographic
Ellie Donnelly

Ellie Donnelly

Richard Pym will step down as chairman of AIB next year.

Mr Pym has been in the role since 2014.

During his time as chairman the bank underwent a number of changes including a return of dividend payments to shareholders and its initial public offering in 2017.

As chairman he was known for his anti-Brexit views.

In addition, he attacked the controls on top executive pay at the bank, saying that it sometimes felt in AIB "that we're the training ground for the rest of the competition."

This morning Colin Hunt, chief executive of AIB, said Mr Pym had “used his vast pools of experience and wisdom to guide the group’s development and has carried out all his duties with energy and professionalism.”

“Under his chairmanship, the bank has gained in strength and stability and is well positioned for the challenges and opportunities that lie ahead.”

The bank said an announcement on his successor would be made “in due course.”

Meanwhile, AIB has appointed Brendan McDonagh to the role of deputy chair with immediate effect.

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