Donal Galvin informed the board of his intention to leave AIB to pursue other business opportunities after five years as the bank’s second most senior executive. He joined AIB in September 2013 as Group Treasurer, became CFO and joined the Executive Committee in March 2019, and joined the board in May 2021. He will step down from the board effective 26 May 2026 but will remain in his day job to ensure a smooth handover, including the announcement of half-year results scheduled for 30 July 2026. A process to appoint a permanent successor will begin immediately. The CEO credited Galvin with contributions to AIB’s return to full private ownership and repayment of €21bn to the Irish State, and with strengthening financial resilience and capital. His pay increased after relaxation of banker pay rules, and analysts cited ongoing retention concerns tied to tax on bonuses above €20,000.
"AIB said he stepped down from the board with effect from 26 May 2026, but will saty on in his day job to ensure a smooth handover of responsibilities, including the announcement of the half year results, scheduled for 30 July 2026. AIB said a process to appoint a permanent successor will commence immediately."
"“He played a key role in the return of AIB to full private ownership and the repayment of €21bn to the Irish State. He has greatly advanced the financial resilience and capital strength of the Group,” he said."
"“It has been a privilege to serve on the board and to work with such talented and committed colleagues over my career with the group. I wish my colleagues, the board and the group every success in the future,” he said."
"“Pay constraints for domestic Irish banks, relative to other banking systems and sectors, remain an issue from an executive retention perspective,” th"
Read at Irish Independent
Unable to calculate read time
Collection
[
|
...
]