DUBLIN, June 24, 2005 (PRIMEZONE) -- Allied Irish Banks, p.l.c. ("AIB") (NYSE:AIB) announces that Mr. Gary Kennedy is to leave his position as AIB Group Director, Finance & Enterprise Technology by December 2005. He will become special adviser to the Group on finance and risk.
AIB Group Chairman Dermot Gleeson said: "We are very grateful to Gary for the very substantial contribution he has made to AIB over the past eight years, both as an executive and a member of the AIB Board. He spearheaded the acquisition of Bank Zachodni in Poland and, with Michael Buckley, led the transformation of our U.S. business. He played a major role in the overall development of the business both through his leadership and his strategic focus. He leaves at a time when the Group is performing very solidly and his contribution both to this and to the planning of our future strategy is much appreciated. We wish him well in his future career."
Gary Kennedy said: "With a new CEO, a new organisational structure and the rescoping of my role and responsibilities, now is the right time for me to seek fresh opportunities and challenges." Deciding to leave a great company is never easy and the eight years I have spent in AIB have been filled with excitement and challenge. I have thoroughly enjoyed working with colleagues in all our geographies and look forward to continuing many of these relationships in my new role as special adviser on finance and risk."
An internal process has commenced to identify a suitable candidate for Finance Director.