Tuesday 16 January 2018

Another man overboard at the troubled DDDA

IT'S another case of man overboard at the Dublin Docklands Development Authority.

The authority lost financial director David Higgins, who finished up this week as his fixed-term contract came to an end.

His job is now expected to be advertised.

The authority, which is chaired by corporate governance expert Professor Niamh Brennan (and wife of former Progressive Democrat justice minister Michael McDowell) has lost several high-ranking executives of late.

These include the company secretary as the authority struggles with massive debts following its ill-advised punt on the €412m acquisition of a 22-acre site in Ringsend.

A further seven people are expected to leave later this year as the authority slims down further.

Foundation course

IT seems you are nothing these days in business or public life without your own foundation.

In New York yesterday at a function hosted by National Toll Road's (NTR) Jim Barry, former US president and recent heart-operation patient Bill Clinton was talking about his foundation, while fellow guest and former Irish president Mary Robinson was talking about hers.

NTR was, meanwhile, celebrating its donation of €20m to its own foundation, which supports projects that are aimed at preventing climate change.

IDA Ireland

BANK of Ireland director Heather Ann MacSharry has joined the board of IDA Ireland -- the agency where she began her career as a young graduate back in the 1980s, before quitting to work in the beauty and healthcare sector.

The Sligo-born daughter of former Fianna Fail finance minister Ray MacSharry, who rejoins the state agency at a time when many feel it has lost its way, brings considerable board-level experience, as well as experience of working for multinationals.

This follows stints at Boots Healthcare and more recently Reckitt Benckiser's Irish operations, which markets products such as Dettol, Clearasil, Nurofen and Strepsils from an office in CityWest.

Ms MacSharry (48) has previously sat on the governing authority of University College Dublin for four years and the board of Enterprise Ireland for a decade.

Elderfield holds court

THE Chartered Accountants Leinster Society "luncheon" is usually a good bit more interesting than it sounds.

Next Thursday's shindig in the Westbury Hotel in Dublin is likely to be among the most interesting as Matthew Elderfield, the Central Bank's new head of financial regulation, airs his views in what will be one of his first public appearances.

Mr Elderfield has already gained something of a no-nonsense reputation in Dame Street, so it will be fascinating to see what he has to say to Leinster's assembled accountants about their role in the country's travails.

Irish Independent

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business