Fergal Leamy, the former chief executive of Coillte and Glen Dimplex, is set to become the next CEO of An Post, succeeding David McRedmond. The State-owned postal company is expected to confirm the appointment on Thursday. This transition follows a period of friction between the company’s board and the Department of Communications regarding executive compensation and strategic investment approvals.
Why is the An Post leadership transition sensitive?
The appointment comes after a period of strained relations between the An Post board and the Minister for Communications, Patrick O’Donovan. According to reports, the board sought a salary of approximately €360,000 for the new CEO under a government-approved pay determination system. However, Minister O’Donovan rejected this proposal, opting instead for a rate of roughly €270,000. For comparison, the outgoing CEO, David McRedmond, currently holds a basic pay rate of about €250,000.
The GPO on O’Connell Street, which served as the headquarters for An Post for decades, has been largely vacated since mid-2023. Most of the company’s workforce has transitioned to a modern office facility in Dublin’s north docks.
How does the salary dispute affect corporate governance?
The disagreement over compensation is symptomatic of wider tensions regarding the autonomy of commercial State companies. The board of An Post wrote to the Minister earlier this month, claiming that delays in signing off on critical projects were undermining its ability to function. Specifically, the board expressed concern that its fiduciary duties were being compromised by the inability to secure a higher borrowing ceiling. This funding is deemed necessary for the development of a centralized sorting office, which leadership views as essential for the company’s future operational viability.
What is the future plan for the GPO complex?
The future of the General Post Office (GPO) is currently being shaped by a taskforce chaired by the outgoing CEO, David McRedmond. While a long-term masterplan is under development, the current proposal suggests a “meanwhile use” for the site. According to the taskforce report, unused sections of the building are earmarked as community-event spaces. Long-term, the site is expected to function as a public post office, a cultural hub, and government office space, alongside public realm improvements.
Monitor the upcoming “national conversation” regarding the GPO. Public consultation remains a formal requirement before any permanent redevelopment of the historic 1818 site proceeds.
Frequently Asked Questions
Who is the incoming CEO of An Post?
Fergal Leamy, formerly of Coillte and Glen Dimplex, is the incoming chief executive.
What is the salary for the new CEO?
While the board proposed €360,000, Minister Patrick O’Donovan set the rate at approximately €270,000.
What is happening to the GPO building?
The site is undergoing a transition. Future plans include its use as a public post office, cultural center, and government offices, with interim community use in the short term.
Why was the board concerned about fiduciary duties?
The board cited delays in approving a higher borrowing ceiling, which they argued hindered their ability to invest in necessary infrastructure like a new centralized sorting facility.
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