Tuesday 21 November 2017

Bookmaker chairman is first past the post with new role

PADDY Power chairman Nigel Northridge has found another job as chairman of Debenhams, the UK department store which employs around 2,400 people over here.

The gambling and tobacco industry veteran will succeed John Lovering following Lovering's retirement on April 1.

The 53-year-old Paddy Power chairman is no stranger to balancing several jobs; he is already an independent director at power provider Aggreko, a non-executive director at Thomas Cook and at car dealer Inchcape.

Mr Northridge won many fans in the investment community in the 32 years he spent with the tobacco group Gallaher, which he led from 2000 until the Benson & Hedges and Silk Cut maker was bought in late 2006.

Shares rose 600pc in the 10 years before the company was taken over, compared with a 76pc rise on the FTSE 100 over the same period.


you spoil us

POLITICIANS don't often make it to the board room in Ireland but John Bruton, the former Taoiseach, is an exception. Industrial conglomerate Ingersoll-Rand yesterday named Mr Bruton, a former European Union ambassador to the United States, to its board.

The news is sure to bring a pep to the step of several other former finance ministers looking for work as the day job becomes increasingly uncertain.

Old boys' club

IT will be a little like old days for former Allied Irish chairman Dermot Gleeson when he chairs meetings of travel reservations firm Travelport, which is due to move its corporate headquarters to Dublin following next week's flotation.

Joining the Cork barrister on the board as non-executive directors will be a veteran from Mr Gleeson's AIB days, ex-finance director Gary Kennedy, as well as Google Ireland's cheerful and energetic boss John Herlihy.


A feather in

his Kappa

CONGRATULATIONS to Smurfit Kappa chairman Liam O'Mahony, who has been tapped as the IDA's new chairman. The former CHR man's appointment is something of a coup for the Government organisation and reinforces their strong links, which began when former IDA boss Kieran McGowan became CRH chairman in 2007 while Mr O'Mahony was chief executive.

Mr O'Mahony has always been a good ambassador for Ireland in his spare time. Just two years ago, the 63-year-old father-of-two was one of the leading executives from Irish-quoted companies to bang the drum for Ireland at the the Davy Investor Conference in New York. It's a sign of how much things have changed, that joining him in New York back then were Anglo's David Drumm and Bank of Ireland's Brian Goggin.

Irish Independent

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