Philip Lynch
Encyclopedia
Philip Lynch is a prominent Irish businessman who has held the position of chief executive at two Irish public limited companies and multiple senior directorships including chairman of the board of An Post
. In October 2010, he was forced by the then Irish minister for health, Mary Harney
, to resign his position as chairman of the National Paediatric Hospital Development Board over his desire to relocate the new Irish Children's Hospital from Dublin City centre to a site near the M50 motorway
http://www.irishtimes.com/newspaper/ireland/2010/1014/1224281063805.html.
, County Cork
. He was educated at Hamilton High School, County Cork, Copsewood College in County Limerick and studied accountancy and economics at Waterford Regional Technical College.http://www.ucc.ie/students/socs/esoc/Speaker%20Profiles/philipLynch.htm
Former Non Executive Director
ARYZTA AG
Former Non Executive Director
A.Hiestand Holding AG
Chief Executive Officer and Executive Director
One51 plc
Director
Irish Pride Bakeries Ltd.
1996-Present
Independent Non-Executive Director, Member of Nomination Committee and Member of Remuneration Committee
FBD Holdings plc
2001-Present
Non Executive Director, Member of Nominations Committee and Member of Remuneration Committee
Heiton Group plc
2003-2005
Former Non-Executive Director and Director of Irish Food Marketing
Irish Life & Permanent Group Holdings plc
2004-Present
Non-Executive Director, Chairman of Sub-Committee, Chairman of Remuneration Committee and Member of Nomination Committee
C&C Group plc
http://investing.businessweek.com/businessweek/research/stocks/people/person.asp?personId=4393157&ticker=GCC:US&previousCapId=127757&previousTitle=C%26C%20Group
as chairman of the National Paediatric Hospital Development Board. This was to be a €650m project to build a new national children's hospital adjacent to the Mater Misericordiae University Hospital in Dublin city centre. The new hospital would amalgamate the secondary and tertiary care functions of three existing children's hospital in Dublin: Crumlin Hospital
, Temple Street Hospital
and Tallaght Hospital
.
In 2010, Lynch met the Crumlin Hospital Foundation to discuss the possibility of relocating the new hospital to the Crumlin Hospital site. He also met with property developer Noel Smyth to discuss relocating the hospital to a site outside the M50 owned by Smyth. When Lynch sought to present to the board a proposal to build the new hospital on Smyth's land, he was obliged to resign his position by Mary Harney. He was replaced as chairman by businessman John Gallagherhttp://www.dohc.ie/press/releases/2010/20101007.html.
In March 2011, after a new health minister was appointed following a general election, Lynch went on radio to make the case that the a city centre location for the new hospital would be inaccessible and have parking difficulties. He said that the 'people who designed the M50
, when that was agreed on, everything was going to happen outside of that' and described the city centre as a 'cul-de-sac
'http://www.rte.ie/news/morningireland/player.html?20110310,2921572,2921601,flash,257. He described the decision to locate the hospital in the city centre as 'political'http://www.irishtimes.com/newspaper/ireland/2011/0311/1224291885290.html. He claimed that the city location was chosen because 'a deal was done on the site....by an eminent politician'.
by Lynch, his wife and four children. The loan was secured on land in Waterford
. In his defence, Lynch says that the loan was made on a non-recourse
basishttp://www.independent.ie/business/irish/philip-lynch-wowed-by-prospect-of-euro19m-profit-2585816.html.
An Post
An Post is the State-owned provider of postal services in the Republic of Ireland. An Post provides a universal postal service to all parts of the country as a member of the Universal Postal Union...
. In October 2010, he was forced by the then Irish minister for health, Mary Harney
Mary Harney
Mary Harney is a former Irish politician. She served as Tánaiste from 1997–2006, Minister for Enterprise, Trade and Employment from 1997–2004, and as Minister for Health and Children from 2004 to 2011...
, to resign his position as chairman of the National Paediatric Hospital Development Board over his desire to relocate the new Irish Children's Hospital from Dublin City centre to a site near the M50 motorway
M50 motorway (Ireland)
The M50 motorway is a motorway in Ireland running in a C-shaped ring around the north-eastern, northern, western and southern sides of the capital city, Dublin. The northern end of the route is located at the entrance to the Dublin Port Tunnel. Anti-clockwise it heads northwest through the tunnel...
http://www.irishtimes.com/newspaper/ireland/2010/1014/1224281063805.html.
Background and education
Lynch was born at InnishannonInnishannon
Innishannon or Inishannon , is a large village on the main Cork–Bandon road in County Cork, Province of Munster, Ireland. Situated on the River Bandon, the village has rapidly grown in recent years due to its proximity to Cork, and has now become a dormitory town for city workers.The...
, County Cork
County Cork
County Cork is a county in Ireland. It is located in the South-West Region and is also part of the province of Munster. It is named after the city of Cork . Cork County Council is the local authority for the county...
. He was educated at Hamilton High School, County Cork, Copsewood College in County Limerick and studied accountancy and economics at Waterford Regional Technical College.http://www.ucc.ie/students/socs/esoc/Speaker%20Profiles/philipLynch.htm
Business career
Former Chief Executive of IAWSFormer Non Executive Director
ARYZTA AG
Former Non Executive Director
A.Hiestand Holding AG
Chief Executive Officer and Executive Director
One51 plc
Director
Irish Pride Bakeries Ltd.
1996-Present
Independent Non-Executive Director, Member of Nomination Committee and Member of Remuneration Committee
FBD Holdings plc
2001-Present
Non Executive Director, Member of Nominations Committee and Member of Remuneration Committee
Heiton Group plc
2003-2005
Former Non-Executive Director and Director of Irish Food Marketing
Irish Life & Permanent Group Holdings plc
2004-Present
Non-Executive Director, Chairman of Sub-Committee, Chairman of Remuneration Committee and Member of Nomination Committee
C&C Group plc
http://investing.businessweek.com/businessweek/research/stocks/people/person.asp?personId=4393157&ticker=GCC:US&previousCapId=127757&previousTitle=C%26C%20Group
Children's hospital controversy
In 2007, he was appointedhttp://www.dohc.ie/press/releases/2007/20070308.html by Minister for Health, Mary HarneyMary Harney
Mary Harney is a former Irish politician. She served as Tánaiste from 1997–2006, Minister for Enterprise, Trade and Employment from 1997–2004, and as Minister for Health and Children from 2004 to 2011...
as chairman of the National Paediatric Hospital Development Board. This was to be a €650m project to build a new national children's hospital adjacent to the Mater Misericordiae University Hospital in Dublin city centre. The new hospital would amalgamate the secondary and tertiary care functions of three existing children's hospital in Dublin: Crumlin Hospital
Our Lady's Hospital for Sick Children in Crumlin
Our Lady's Hospital for Sick Children in Crumlin, Dublin is Ireland's largest and best known paediatric hospital. It has been caring for Ireland's youth since 1956. It has almost 1200 staff and 243 beds all dedicated to the care of children.-External links:...
, Temple Street Hospital
Children's University Hospital, Temple Street
Temple Street Children's University Hospital is a children's hospital located on Temple Street, Dublin, Ireland. It was founded in 1872 and serves North Dublin City and County and provides a secondary and tertiary referral and care service both regionally and nationally...
and Tallaght Hospital
Tallaght Hospital
The Adelaide and Meath Hospital, Dublin, incorporating the National Children's Hospital , often referred to simply as Tallaght Hospital , is a teaching hospital in Tallaght, County Dublin, Ireland. Its academic partner is the University of Dublin, Trinity College...
.
In 2010, Lynch met the Crumlin Hospital Foundation to discuss the possibility of relocating the new hospital to the Crumlin Hospital site. He also met with property developer Noel Smyth to discuss relocating the hospital to a site outside the M50 owned by Smyth. When Lynch sought to present to the board a proposal to build the new hospital on Smyth's land, he was obliged to resign his position by Mary Harney. He was replaced as chairman by businessman John Gallagherhttp://www.dohc.ie/press/releases/2010/20101007.html.
In March 2011, after a new health minister was appointed following a general election, Lynch went on radio to make the case that the a city centre location for the new hospital would be inaccessible and have parking difficulties. He said that the 'people who designed the M50
M50 motorway (Ireland)
The M50 motorway is a motorway in Ireland running in a C-shaped ring around the north-eastern, northern, western and southern sides of the capital city, Dublin. The northern end of the route is located at the entrance to the Dublin Port Tunnel. Anti-clockwise it heads northwest through the tunnel...
, when that was agreed on, everything was going to happen outside of that' and described the city centre as a 'cul-de-sac
Cul-de-sac
A cul-de-sac is a word of French origin referring to a dead end, close, no through road or court meaning dead-end street with only one inlet/outlet...
'http://www.rte.ie/news/morningireland/player.html?20110310,2921572,2921601,flash,257. He described the decision to locate the hospital in the city centre as 'political'http://www.irishtimes.com/newspaper/ireland/2011/0311/1224291885290.html. He claimed that the city location was chosen because 'a deal was done on the site....by an eminent politician'.
One51 shareholder revolt
In 2010, Philip Lynch was paid €1.4m including bonus as chief executive of One51 plc. A shareholder revolt ensued at the company's AGM in July. Rebel shareholders led by Gerry Killen, Alf Smiddy, Mike Soden and Peter Brennan, criticised Lynch's remnueration in a year in which the company reported a loss of €11m and challenged his reappointment http://www.independent.ie/business/irish/one51-chief-sees-off-bid-by-rebel-investors-to-gain-seats-on-board-2275660.html?start=2. Lynch survived the revolt.Court case over bank loan
In March 2011, a court hearing was held in relation to an unpaid loan for €25m owed to AIBAIB
AIB may refer to:* add-in board * Admiralty Interview Board* AIB College of Business* Allied Intelligence Bureau* 2-Aminoisobutyric acid* Amplified in breast* The Art Institute of Boston* The Arts Institute at Bournemouth...
by Lynch, his wife and four children. The loan was secured on land in Waterford
Waterford
Waterford is a city in the South-East Region of Ireland. It is the oldest city in the country and fifth largest by population. Waterford City Council is the local government authority for the city and its immediate hinterland...
. In his defence, Lynch says that the loan was made on a non-recourse
Nonrecourse debt
Non-recourse debt or a non-recourse loan is a secured loan that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender/issuer can seize the collateral, but the lender's recovery is limited to the...
basishttp://www.independent.ie/business/irish/philip-lynch-wowed-by-prospect-of-euro19m-profit-2585816.html.