Paddy Galvin, the former chief executive of Guinness Ireland and Waterford Crystal, has died aged 89.
A prominent figure in Irish corporate life throughout his career, Dr Galvin presided over two of the most noteworthy corporate restructuring processes of the 1980s and 1990s.
The first Catholic to be appointed to the board of Guinness, he oversaw the restructuring of the Dublin brewery as chief executive in 1981, a process which resulted in the workforce being reduced from more than 3,000 to 700.
He joined Waterford Crystal as chief executive in 1989, leading the rationalisation of the company’s three crystal factories that saw 1,800 workers lose their jobs.
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14-week strike
This period of restructuring in the early 1990s included a bitter 14-week strike when the workforce resisted the cutbacks and wage cuts that Dr Galvin and an
investment group headed by Sir Anthony O’Reilly felt were essential if Waterford Crystal was to survive in the face of cheaper competition.
When Dr Galvin retired in 1996, Sir Anthony credited him with transforming Waterford Crystal “from a production-driven entity to a profitable market-led, consumer-focused company”.
Dr Galvin acknowledged that the restructuring and rationalisation of the crystal operations had been a painful period – for himself personally and for those who lost their jobs at the plants. “For 3½ to four years, it was dog-rough; it was difficult for all in a trying and testing period.”
Dr Galvin also served as chairman of PV Doyle Holdings and a director of Bank of Ireland, Greencore and Irish Shell. He was awarded Business & Finance’s Business Person of the Year award in 1996.
He is survived by his four children, Imelda, Regina, Orla and Grant.
