Kevin Barry, the former chief executive of Irish engineering group Mincon, is to step down from the company's board following a three year transition period.
The company appointed Joe Purcell as chief executive officer in 2015, replacing Mr Barry, who at the time announced his intentions to retire.
Mincon manufactures and sells rock drilling tools and associated products to international customers in the mining, construction, geothermal and water well industries.
It has manufacturing facilities in Shannon, Ireland; in Benton, Illinois; in Perth, Australia; and in North Bay, Canada. It also has subsidiaries in Ireland, Sweden, USA, Peru, Canada, Australia, South Africa, Namibia, Ghana and West Africa.
In a statement to investors on Friday, Mincon said Mr Barry, a non-executive director, would be resigning from the board of the company “effective today”.
Mr Barry was with the company for 34 years, first as financial controller, then as chief executive for 25 years through the IPO of the company in 2013.
“Kevin stood down as CEO in 2015 but remained on the board in a non-executive capacity, to be available as counsel to the succeeding CEO, Mr Joe Purcell, and to chair and support various committees,” it said.
“Joe Purcell expressed his thanks to Kevin at the recent board meeting for that support and for his frequent visits to the company and the advice and assistance he has given the executive over the last three years.
“Kevin Barry has taken up other interests outside the company since he retired from the executive team, and now wishes to step down from company to spend more time on these other matters.”
Mr Barry said the company was “in safe hands and tremendous health” before thanking “every worker in the company, and the various teams around the world”.
Mincon chairman Patrick Purcell said Mr Barry had made "very significant contributions" over the years in his capacities as an executive, and latterly as a non-executive director.
“While the board notes his departure with regret, we wish Kevin all the best in his retirement from the Mincon Group and in his new business interests,” he said.
