A SENIOR figure in IDA Ireland, the Republic’s foreign direct investment (FDI) agency, has been named as the next boss of Invest NI.
Kieran Donoghue will take over the role of chief executive early next year.
A graduate of University College Cork, he also studied at the University of Toronto and Boston College before becoming an advisor for Forfas, the Irish Government's advisory body for economic development.
He has spent the last 21 years working for IDA Ireland, serving the past nine years as the organisation’s global head of strategy, public policy and international financial services.
Mr Donoghue had a particularly high profile in the post-Brexit referendum years, regularly appearing on US media to discuss Dublin’s position in the withdrawal negotiations between the UK and EU.
His appointment comes two years after Mel Chittock was named as Invest NI’s interim CEO following the surprise resignation of Kevin Holland in late November 2021.
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Mr Chittock is expected to remain in post until Kieran Donoghue takes over in 2024.
The change in leadership comes during a tumultuous period for the north’s economic support agency.
After being hit by the loss of EU funding and the upheaval of the Covid-19 pandemic, Invest NI was rocked in January 2023 by Sir Michael Lyons’ highly critical report, which found that “profound divisions” at the top of the organisation were having a damaging impact.
Invest NI’s chair, Rose Mary Stalker stepped down a short time later.
The independent review also highlighted issues with its ‘client company’ model, which it said a considerable amount of Invest NI’s budget was tied up in repeat support to a small number of businesses.
The agency published an extensive action plan in response to the Lyons review earlier this month.
Ex-banker Colm McKenna, who has taken on the role of interim chair, said the arms-length-body would “pivot” from supporting job creation to focusing on raising productivity within the wider Northern Ireland economy.
Announcing the appointment of Kieran Donoghue on Monday, Mr McKenna said he was “delighted” with the calibre of the candidate.
“Kieran brings a wealth of experience from a long and highly successful career in economic development and foreign direct investment,” said Mr McKenna.
“This is an exciting time for the organisation and we look forward to welcoming Kieran to the team when he joins us in early 2024.
“I would also like to take the opportunity to thank Mel Chittock for his stewardship of the organisation over the last two years and to commend him on the guidance and support he has provided during that time.
“Mel will continue in the role of Interim Chief Executive until Kieran joins us.”
In a brief statement on Monday, Mr Donoghue said: “I am delighted to take up this very important role. I look forward to working with the staff of Invest NI, the board, the business community and our many stakeholders, as we pivot Invest NI to deliver the recently launched action plan in response to the independent review of Invest NI.”
