Ex-chairman of Enterprise Ireland wanted to stay but had no choice but to resign

Ken Foxe

The former chairman of Enterprise Ireland (EI) told the board he wanted to stay in the role but had been left with no choice but to resign.

Michael Carey stepped down as chair of the enterprise body and the Housing Agency in June after his company East Coast Bakehouse failed to file its accounts on time.

In a message to the board before the announcement, Mr Carey said the delay had become a source of “potential embarrassment” for Minister Peter Burke because of the minister’s responsibility for the Companies Registration Office.

He wrote: “While this is a widespread issue for many businesses (circa 15,000 late filings per annum), we have received particular media focus due to my role as chair at EI and the Housing Agency.”

Mr Carey said the decision was unfortunate and was down to “some management/administrative errors.”

He told the board rectifying the accounts issue had been further delayed because his company also needed to change auditors.

The message said: “There are no suggestions of any financial or accounting issues at the business, it is a purely administrative issue and of [a] failure to comply with our corporate governance responsibilities.”

Records from Enterprise Ireland detail how the announcement was carefully timed so that the board was kept in the loop before the resignation went public.

A message from the interim chief executive Kevin Sherry to Mr Carey said: “When you have a statement ready, just [let] me know if you wish to send a separate note from you to the members of the board informing them of your decision.”

Mr Carey responded to say: “Will email you in next few minutes.”

Mr Sherry then asked if the resignation letter would be sent to Minister Peter Burke and when it was likely to be issued.

A message from Mr Carey said: “Yes, I’ve spoken with and emailed the minister. The statement is issued now.”

The resignation was also notified to all staff of Enterprise Ireland in a personal message sent from the chief executive Kevin Sherry.

Mr Sherry wrote: “Michael gave huge time and commitment to Enterprise Ireland and was dedicated to supporting Irish exporting businesses at all stages of their development.

“Throughout his time as Chairman, he constantly focused on how our organisation can better support Irish businesses. He brought the voice of the client and the insights of an entrepreneur to the table and ensuring that clients were at the heart of every conversation.”

Enterprise Ireland had initially refused to provide many of the records and only did so following an appeal under FOI laws.

Asked about the documents, they said they had nothing further to add to the public statement they made in June.