KENNY JACOBS IS to voluntarily step down as chief executive of DAA after reaching an agreement to resolve his dispute with the board of the State-owned airport operator.

A spokesperson for Jacobs confirmed this morning that, as part of the settlement, he has agreed to leave his position, bringing an end to legal proceedings he had initiated in December.

Jacobs had taken legal proceedings against the DAA after being suspended from his role as chief executive before Christmas, pending the outcome of an investigation into allegations made against him.

Jacobs had taken a High Court action seeking to have his suspension lifted and a disciplinary investigation halted.

The case had been due to come before the court tomorrow.

In a statement today, Jacobs said he was “pleased that my dispute with the board of DAA has been resolved, and an agreement reached”.

He said he was “immensely proud of the outstanding performance DAA achieved in my time as CEO with record operational, commercial and financial results”.

“I am delighted with the very many improvements made for passengers at Dublin and
Cork airports and the infrastructure expansion that supports aviation capacity growth
and sustainability change, which are both vital to the Irish economy,” Jacobs said.

“Most of all, I want to sincerely thank the exceptional teams at Cork airport, Dublin
airport, ARI and DAA International and wish them the very best in the future.”

Transport minister Darragh O’Brien said that he had been “fully informed” throughout the legal process.

“While as shareholder I was not, in the legal circumstances, required to approve the settlement, the board did keep my officials apprised of developments,” O’Brien said.

“The board was aware of my dissatisfaction with the conciliated quantum and I understand today’s settlement quantum is considerably less,” he added.