BUSINESSMAN SEÁN Quinn has resigned from a range of subsidiary companies within the Quinn group and two new senior non-executive directors have been appointed to the group board.
The former secretary general of the Department of Communications, Energy and Natural Resources, Brendan Tuohy, has joined the board, as has Pat O’Neill, former group managing director of Glanbia plc.
The moves are part of the group’s decision to take on a structure more akin to that of a public company, despite being a private, family-owned business.
The Quinn group is a diversified business with interests ranging from cement, hospitality and property to insurance and glass production. It is considered to be the largest indigenous business in the State.
Mr Quinn has resigned from the boards of such companies as Quinn Public Houses, Quinn Financial Services, Quinn Property Holdings, Quinn Quarrying and Concrete, and Quinn Windfarm Holdings. He remains chairman of the Quinn group.
The Quinn group chief executive, Liam McCaffrey, has also resigned from a range of the group’s subsidiary companies.
In January, Quinn Insurance announced it had restructured its board as part of a process to implement governance structures that are more independent of the wider Quinn group and which resembled those of a publicly-listed company.
A note posted on its website last week said the group was improving its market position in some key areas, despite the economic downturn.
“While the deteriorating economic situation continues to be of concern, we are pleased that in the first two months of the year we have been able to maintain or improve on our market position in key segments,” the note said.
“The efficiency of the new packaging division and the economies of scale associated within our modern container glass plants in particular, are driving significant benefits vis-à-vis our competitors at this time.”
The note said construction-related product demand in Ireland was down in line with expectations but there had been a substantial increase in exports to the UK, particularly for its Quinn lite thermal block and Quinn therm insulation products.
On glass, it said its automated filling and bonding service offered in Elton in England continued to see a sustained increase in demand. “In addition the company has been successful in securing new business in France and north Africa and further discussions are nearing conclusion for the supply of glass bottles into the United States.”
The group has been selected as radiator supplier to the Olympic village for the London 2012 games. “Following the closing ceremony at the Olympics, the units will then be used within an extensive regeneration scheme in East London in association with East Thames Housing Association.”
It said the group’s increased level of export-related activity “should assist it in maintaining employment levels”.
