Saturday 06 October 2012
The Irish Dairy Board’s finance director Cathal Fitzgerald
The Irish Dairy Board’s finance director Cathal Fitzgerald intends to leave the organisation by the end of the year.
With the IDB for the past 16 years, Mr Fitzgerald has plans in place to develop a number of corporate finance opportunities in early 2013. The board has begun the process of identifying a replacement, likely to be concluded in advance of his vacating the finance role.
Chief executive Kevin Lane said: "Cathal has made a tremendous contribution to the IDB and the industry. His achievements have been central to leaving us well placed to deal with the expected growth in the dairy sector. We wish him all the best with his future plans."
Since his appointment in 2004, Mr Fitzgerald has overseen significant advances in streamlining the IDB’s global business. He played a major role in restructuring operations, delivering strategic acquisitions, divestments, and reinvestment projects.
Mr Fitzgerald has been a catalyst for innovative change and has led his teams in the development and execution of a number of award-winning initiatives.
The latest of these was IDB’s refinancing project that created a working capital financing platform for the dairy sector, catering for the post-2015 milk expansion era. This refinancing deal was the first of its kind for the Irish dairy industry, creating an extra €190m funding structure with partners Rabobank, geared to facilitate Ireland’s dairy expansion ambitions.
Mr Fitzgerald also played a key role in implementing an IT platform for the Irish dairy business.
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