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Chief Financial Officer announced for Shannon Group plc.

20 December 2013

David McGarry

Friday, December 20th, 2013: Shannon Group plc has today announced the appointment of David McGarry as Chief Financial Officer of the Group, with effect from February 3rd, 2014.   Mr McGarry, who is from Cork, joins the Shannon Group at an exciting time, with the airport just about to complete its first year as an independent entity, a year that saw a number of significant gains in services across its transatlantic, European and UK networks.  

The Shannon Group plc will in early 2014 move into its next phase as the airport is merged with the assets of the former Shannon Development as well as with advancement of the International Aviation Services Centre (IASC) project.  This will focus on further developing the existing cluster of 40 aviation related businesses, employing 1,600 people, at Shannon into a globally significant aerospace cluster.  At a passenger level, 2014 also bodes well for Shannon, with a further range of new services coming on stream across its network.  These include eight new Ryanair routes - Berlin, Paris, Fuerteventura, Warsaw, Faro, Munich, Nice and Krakow – from the end of March and a new Aer Lingus Regional Bristol service, as well as doubling of its capacity across Manchester and Birmingham services.  There will be further significant gains also across transatlantic services in 2014, with Aer Lingus going daily on its Boston and JFK flights and United Airlines increasing its Chicago capacity by 88%.

Welcoming the appointment, Shannon Group plc CEO Neil Pakey said:  “David will be joining the executive team at Shannon at an exciting and challenging time as we gear up for the new beginnings of the Shannon Group.  We very much welcome the fact that we have someone of his calibre joining the team at this time.”  Further key appointments to the executive team will follow in the New Year, including the Managing Director of Commercial Properties as well as Human Resources Director.   Said Mr McGarry, “This is a great opportunity to be part of the executive team tasked with advancing the exciting plans for the Group in 2014.   I was attracted by the Board’s vision and commitment and I am looking forward to leading the financial function, working with new colleagues and joining the senior management team in the New Year.”  Mr McGarry has been Finance Director of Indaver Ireland & UK Group since 2008 with responsibility for the finance, development, procurement and customer service functions.  Since 2012 he has also been Business Director for its municipal waste incineration and export business.  He played a key role in leading the development by Indaver of Ireland’s first municipal waste to energy plant in County Meath investing €147m between 2009 and 2011. During this period, David he oversaw Indaver’s development into one of Ireland’s leading waste management companies. 

Between 2001 and 2008, he was a Director of Henley Partners where he led various teams in capacities as general manager, CFO and bid-manager on the development of public-private partnership projects involving national infrastructure such as toll roads, waste water plants and waste to energy facility investments in Ireland and Northern Ireland. He also worked on several commercial property development and hospitals acquisitions transactions as an adviser during this period for a number of property groups in Ireland and the UK.  Prior to this, between 1995 and 2001, Mr McGarry was an Associate Director of NCB Corporate Finance. 

David qualified as a Chartered Accountant while training with KPMG, where he worked in its Cork, Dublin and Paris offices and between 1991 and 1995 worked as a Senior Manager in the audit and transaction services departments of KPMG Brussels.  He is a fellow of the Institute of Chartered Accountants in Ireland and became a Chartered Director in 2011 with the Institute of Directors.   He holds an MBA degree from the University of Leuven in Belgium, B. Comm degree from University College, Cork and diploma and certificate in Company Direction from the Institute of Directors.

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