Northern Ireland

Sean Quinn leaves Quinn Industrial Holding advisor role

Sean Quinn has left his consultancy role with a company running part of his former business empire. Picture by Paul Faith
Sean Quinn has left his consultancy role with a company running part of his former business empire. Picture by Paul Faith Sean Quinn has left his consultancy role with a company running part of his former business empire. Picture by Paul Faith

SEAN Quinn's role as an adviser with a company running part of his former business empire is to end.

The board of directors at Quinn Industrial Holdings Ltd (QIHL) said the consultancy arrangement with Mr Quinn and his son Sean Quinn junior will be discontinued by mutual agreement.

Once the richest man in Ireland, the Fermanagh businessman lost control of his assets in 2011 after a disastrous investment in Anglo-Irish Bank.

QIHL acquired the building materials and packaging divisions of the former Quinn Group from creditors in December 2014. It employs almost 750 people.

Formed to support efforts to return the Quinn businesses to local management, it said it "entered into a consultancy agreement as a framework to facilitate Sean Quinn's involvement".

"We believed that this would enable us to benefit from the wealth of experience that Sean had built up since he founded the businesses and was a role intended both as a mark of respect for Sean and to assist in creating a unified sense of purpose in support of a local management team and local businesses that sustain local employment and prosperity," the statement said.

"As time has progressed it has become evident that Sean’s expectations for his role and the ownership structure of QIHL are at odds with the strategic direction of the businesses."

Mr Quinn will, however, have "continued access to office facilities for his own personal use".