Fergal Leamy, new COO of Glen Dimplex
Former Coillte chief executive will succeed Michael Maher at the Irish heat and energy company
Fergal Leamy was CEO and director of Coillte for four years and stepped down earlier this year. He is to succeed Michael Maher who will move to another position in the group.
Mr Leamy was responsible for achieving a significant turnaround in the State agency’s business with Coillte chair Róisín Brennan saying in January that Mr Leamy had done an “outstanding job” by transforming it both operationally and financially. She said,
The business is now generating significant and sustainable operating cash flows, is more customer-focused and is increasing its return to the State as shareholder.
Mr Leamy had overseen the selling of Coillte’s wind farm assets to Greencoat Renewables plc for an Enterprise Value of €281 million, or an equity price of €136.1m, above its original target price of €125m, and the announcement of the refurbishment of Avondale House and Forest Park.
It is understood Mr Leamy will play a key role in the company’s international operations.
Established in 1973, Glen Dimplex is a privately-owned company with annual revenues in excess of €2 billion and over ten thousand employees across four continents. The company is currently led by chief executive Fergal Naughton, founder Martin Naughton’s son, with its group headquarters in Dublin.