Bord na Móna chief executive Mike Quinn is understood to be a leading candidate for the same role at Irish Water's parent, Ervia.
The State-owned holding company for both the controversial water utility and Gas Networks Ireland has been searching for a chief executive to replace Michael McNicholas.
Mr Quinn, who joined Bord na Móna a little over two years ago, has emerged as a leading candidate to replace him following a search that began late last year after Mr McNicholas signalled his departure.
Ervia said that the recruitment process was “nearing completion” but not yet finished and would not comment on any candidates until it had been finalised.
Bord na Móna said Mr Quinn was looking forward to seeing the company’s transformation become a reality in the coming years and added that it did not engage in speculation.
More than half of Mr Quinn’s five-year term as chief executive of Bord na Móna has yet to run. He took the job in January 2015 and set about expanding the group further into areas such as renewable energy, biomass and horticulture.
Joint venture
It also due to launch a joint venture with State forestry company Coillte. The company is preparing for the end of the turf harvesting and peat bog exploitation for which it was originally established.
Before joining the company, Mr Quinn was group vice-president of Precision Castparts, which makes components for aircraft engines and gas turbines.
He has also worked for Lufthansa Technik, the aircraft maintenance arm of German airline group Styker, Amdahl and Apple Computers.
The government established Ervia after Bord Gáis Energy was sold to British operator Centrica in 2014.
The company’s ownership of Irish Water put it at the centre of the bitter controversy over water charges that sparked mass protests.
The controversy was ultimately blamed for the Fine Gael/Labour coalition's failure to keep a record majority in last year's general election.
