Michael McGrath (Cork South Central, Fianna Fail)
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62. To ask the Minister for Finance the process that will be followed to recruit a new chief executive for AIB; if an external consultant has been appointed; when the process is to be completed; and if he will make a statement on the matter. [3190/15]

Michael Noonan (Limerick City, Fine Gael)
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Following the announcement of the resignation of Mr. David Duffy on Monday, the attention and focus of AIB must now turn to recruiting a new Chief Executive Officer. With that in mind, I agreed  at a meeting with the Bank's Chairman Mr. Pym yesterday, that it is in AIB's best interest that the process to recruit a new Chief Executive would begin without delay with a view to having someone with the calibre, skills and drive to lead AIB in place by end Q2 2015. 

The Chairman informed me that this task has already commenced and that AIB will recruit an external consultant to assist with the Board's assessment and selection process. Mr Pym has also agreed to keep me updated as the selection process develops and is confident that the board will be in a position to recommend a new Chief Executive to me within the coming months.

While this process is underway Mr Pym assured me that AIB would continue to drive forward with its plans and highlighted the strengths of the management team that is now in place. My officials and their advisor Goldman Sachs International, will continue to work with the bank's management team on developing our plans to restructure its capital base and lay out a roadmap that will see AIB begin to return cash to the State.