IDA Ireland has announced that Sean Dorgan will step down as chief executive when his tenure concludes at the end of the year.

Mr Dorgan has been chief executive of the IDA since January 1999.

Chairman John Dunne described Mr Dorgan as an exponent of innovation, and said he made outstanding progress with foreign direct investment into Ireland in an environment of intense globalisation and increased competition.

"Sean Dorgan has served IDA with vision and vitality. His strategy strongly focused on transforming what overseas companies do in Ireland.

"New business sectors have been nurtured, such as biopharmaceuticals and digital media, that barely existed 10 years ago.

"In addition, we are seeing world-leading companies repeatedly reinvest in high-value strategic activities such as advanced manufacturing, next-generation shared services, R&D, value chain and supply chain optimisation and EMEA headquarters."

Minister for Enterprise, Trade and Employment Michéal Martin paid tribute to Mr Dorgan's contribution to Ireland's economic success over the past decade.

"His strategic thinking, creativity and innovative outlook has set the IDA on a course of securing the most cutting-edge global investment."