Friday 15 December 2017

Quinn appoints 'turnaround' expert McTighe to board

Laura Noonan

Laura Noonan

THE newly restructured Quinn Group has appointed JJB sports chairman Mark McTighe to its board -- but has refused to say how much the turnaround expert will be paid or what his responsibilities will be.

The news comes almost a year after Irish Bank Resolution Corporation (formerly Anglo) and other lenders began a drawn-out process to take ownership of the Quinn Group. The transfer was completed in November.

Mr McTighe's appointment marks a significant coup for the conglomerate since he brings with him extensive restructuring experience from the recent turnaround of JJB.

His heavyweight status is further confirmed by his position as senior independent director at plc Betfair and as non-executive director of the UK's communication regulator Ofcom.

A spokesman for the Quinn Group last night declined to comment on what Mr McTighe's responsibilities on the board would be or whether he would sit on any particular committees.

The spokesman also refused to say how much Mr McTighe would be paid, or how long he was expected to stay on the board. Questions about whether further board or management appointments were imminent were also refused.

The Quinn Group have "nothing to add to what's in the statement (announcing Mr McTighe's appointment)", the spokesman said.

The statement notes that he will join both the main Quinn Group holding company's board and the board of Quinn Manufacturing. In it, Quinn Group chairman Pat O'Neill said the new recruit brings a "vast wealth of experience".

"He will be a huge asset to the board in overcoming the challenges that currently face us and helping us deliver on our growth strategy," he added.

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