PROF Kieran Kennedy is to retire as director of the Economic and Social Research Institute later this year. He has reached the age of 60 and will have served 25 years as director.

The ESRI council and executive committee said in a statement last night that they wanted to express their "deep appreciation" to Prof Kennedy for his contribution. He is to continue with the ESRI in a part time research capacity.

During the coming months the procedure for appointing a successor will be put in train.

Prof Kennedy was appointed director of the institute in 1971, when he was 35. In the past 10 years he has helped raise £5 million in research funding from the business community and the institute now earns £2.5 million annually from commissioned research. He is author or editor of 14 books and monographs and has published some 70 papers in academic journals.