DUBLIN, Ireland, Oct. 2, 2003 (PRIMEZONE) -- Mr. Dermot Gleeson will succeed Mr. Lochlann Quinn as Chairman of the Board of AIB (NYSE:AIB) with effect from the conclusion of the next Board meeting, on 14 October 2003. Mr. Quinn will also retire as a Director of the Bank on that date.Mr. Gleeson joined the Board on 16 May 2000. He was appointed Deputy Chairman with effect from 8 October 2002 and named to succeed Mr. Quinn as Chairman.
Mr. Quinn joined the Board on 8 May 1995 and has served as Chairman since 1 January 1997.
Commenting on his retirement from the AIB (NYSE:AIB) Board, Mr. Quinn said:
"It has been an honour being Chairman of AIB, which has a strong Board, a focussed Management and a committed workforce. AIB (NYSE:AIB), is well positioned for continued growth at home and abroad, and the Board is fortunate to have a person of the calibre of Dermot Gleeson to lead the Group in its next phase of development. I wish him every success, and I would like to thank my fellow Directors for their unstinting contributions, wise advice and friendship."
Mr. Dermot Gleeson said: "I want to thank Lochlann for his enormous contribution to AIB over the past eight years. His wide business experience and skills fostered the development of the Group during his tenure as Chairman, and he gave strong and decisive leadership at all times. I wish him well for the future."
In a tribute to Mr. Quinn, Mr. Michael Buckley, Group Chief Executive, said: "AIB, has been very lucky to have had Lochlann as Chairman. I have been privileged to have worked with him and to have had his advice and support, since mid-2001. His intelligence, experience, acumen and resilience have served AIB's shareholders very well."