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Monday 18 December 2017

Here are three of the Eir executives likely to benefit from the €181m money pot

Eir chief executive, Richard Moat. Photo: Damien Eagers
Eir chief executive, Richard Moat. Photo: Damien Eagers Business Desk Business Desk

Top executives and managers at former semi-state telco Eir are set to split a €181.6m windfall when the company refloats on the stock market or is sold.

Newly-filed accounts for a Luxembourg-based company connected to the telco showed that the fair value of Eir shares held for a management incentive plan was just under €182m at the end of last June.

So who are the most likely beneficiaries when the telco floats? While there are many senior players that are set to profit, here are three that may be front in line.

Richard Moat

The current chief executive officer (CEO) succeeded Herb Hribar who resigned in 2014, the same year that the original planned IPO was pulled.

Moat - who had been the company's chief financial officer (CFO) - was made interim chief executive initially and was made permanent in the role in November 2014.

Before joining Eircom, Mr Moat was managing director of T-Mobile in Britain. He later served as chief financial officer of Everything Everywhere, which was formed following the merger of T-Mobile and Orange Mobile.

Huib Costermans

Eir's Chief Financial Officer was appointed to the role in August 2015. An experienced telecommunications executive with deep operational finance knowledge, he worked with Dutch operator KPN for seven years.

At KPN, he filled a number of roles including CFO for its Wholesale and Operations functions, CFO of E-Plus in Germany and CFO of KPN’s Dutch operations. 

Before joining KPN, Huib spent 16 years in various roles with Organon, a Dutch pharmaceutical company that used to be part of Akzo Nobel.

Carolan Lennon

Carolan Lennon of Open Eir
Carolan Lennon of Open Eir

Appointed Wholesale Managing Director, Open Eir, in October 2016, Lennon actually joined Eir in 2010.

From 2010 to 2013, she served as Chief Commercial Officer of the Consumer division, where she had responsibility for both the fixed and mobile businesses, including the eircom, eMobile and Meteor brands.

In June 2013, she has been Managing Director of Wholesale at eircom Holdings (Ireland) Limited.

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