LONDON (ShareCast) - (Sharecast News) - Smurfit Kappa Group announced the appointment of Irial Finan as its chair-designate on Wednesday, effective immediately.
The FTSE 100 packaging manufacturer said he was succeeding Liam O'Mahony, who had advised the board of his desire to retire following the conclusion of the annual general meeting on 3 May next year.

It said the appointment of Irial Finan followed a "comprehensive" selection process, led by the group's senior independent director Roberto Newell.

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Liam O'Mahony joined the board of SKG upon the group being admitted to trading on Euronext Dublin and the London Stock Exchange in March 2007, and had served as chair since his appointment 10 years ago in December 2008.

"It has been a privilege to chair the Board of Smurfit Kappa Group," said Liam O'Mahony.

"The last 10 years have been a transformative time for the business and I have been lucky to work alongside a group of outstanding professionals, both on the board and throughout the business.

"It is an exciting time for the group and I am delighted to hand over to Irial Finan, who has a unique breadth and depth of expertise to lead the Smurfit Kappa Board in the period ahead."

Irial Finan joined the board of SKG in February 2012, and he had been chair of the remuneration committee since 2015 and a member of the audit committee since his appointment.

He was executive vice-president of the Coca-Cola Company and president of the Bottling Investments Group from 2004 until he stepped down from the role in December 2017, and retired in March 2018.

Finan originally joined the Coca-Cola system in 1981, and he currently served on the boards of Coca-Cola European Partners and Coca-Cola Bottlers Japan Holdings.

"On behalf of the management team I want to sincerely thank Liam for his outstanding contribution to the board and the group over the past 10 years," said chief executive officer Tony Smurfit.

"He has fully dedicated himself to the role of chair and has overseen the significant development of the group over the period."

Smurfit said his leadership and guidance had been "invaluable", adding that he was leaving the group in a position of strength and with "exciting prospects" in the short, medium and long term.

"I would also like to welcome our new chair, Irial Finan.

"We look forward to working with him as we continue to build on our position as a global leader in our sector."

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Irial Finan, chair-designate, added that he was "honoured" to accept the trust the board had placed in him, claiming he was "committed" to building on O'Mahony's contribution.

"I have been very impressed with the vision and culture of the group since joining the board, and I look forward to the future development of one of Ireland's preeminent companies."

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