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Public interest directors at Permanent TSB step down

Margaret Hayes and Ray MacSharry were asked by the government in 2009 to fill the roles to ensure that the bank was acting in the public interest.

Image: Sasko Lazarov/Photocall Ireland

TWO PUBLIC INTEREST directors at Permanent TSB have announced today they they will not be seeking re-election at the company’s annual general meeting next year.

In a statement, Permanent TSB said that Margaret Hayes and Ray MacSharry both advised the board that they do not intend to stand for re-election at the 2013 AGM.

Hayes and MacSharry were asked by former Finance Minster Brian Lenihan to step into the roles in 2009 to ensure that the bank was acting in the public interest.

Alan Cook, Chairman of Permanent TSB, today thanked both directors for their contribution to the doard. He said they have both “been valued colleagues and have made enormous contributions to the board during their respective tenures”.

“On behalf of my colleagues, I want to express our appreciation to both of them for their work on the Board and we wish them every success in the years ahead,” he added.

Read: Permanent TSB records €922 million loss for 2012>
Read: Sold: Government confirms sale of Irish Life for €1.3 billion>

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