Minister for Enterprise Appoints Bernard Byrne Co-Chair of Balance for Better Business
09 October 2024
Dublin, 09 October 2024 – Minister for Enterprise, Trade and Employment, Peter Burke TD today announced the appointment of Bernard Byrne as Co-Chair of Balance for Better Business (B4BB), an independent review group established by Government six years ago tasked with improving gender balance in senior business leadership in Ireland.
Bernard will succeed outgoing Co-chair Aongus Hegarty and will work closely with sitting Co-chair Carol Andrews, who assumed the position in May 2023, to deliver on B4BB’s strategy focused on advancing gender balance at board and leadership level in businesses across Ireland.
A founding member of the B4BB Review Group in 2018, outgoing Co-chair, Aongus Hegarty, has co-led the initiative for the past three years and helped to successfully drive improvements in gender balance at leadership level in Irish businesses. During his three years as Co-Chair, Ireland’s largest listed public companies reached a milestone figure of 40% average female representation on company boards.
A deeply experienced strategic and commercial leader, incoming Co-chair Bernard Byrne has a successful track record of managing high-growth public, private and semi-state organisations in the finance and utilities sectors. He is a former CEO of Davy and Chair designate of Cairn Homes, one of Ireland’s largest home builders. He was previously CEO of AIB and prior to that Group Finance and Commercial Director at ESB. A former president of the Banking & Payments Federation Ireland, he brings a wealth of expertise in driving change and implementing transformation at large enterprises.
Established in 2018, the Balance for Better Business is an independent business-led Review Group established by the government to improve and promote gender balance at board and leadership level of Irish business. Over the six years since the initiative was established, the levels of female representation on the boards of the largest publicly listed companies in Ireland have increased by 22 percentage points, achieving a key milestone of 40% female representation, and unlocking valuable benefits for organisations around the country.
In May of this year, the initiative launched a new five-year strategy to build on this progress and accelerate change in key focus areas. As part of this strategy, the initiative set a new target for organisations to achieve 40% plus female representation on boards and leadership teams, with the aim of encouraging ambitious progress by business on their gender balance journey.
Commenting on the appointment, Minister for Enterprise, Trade and Employment, Peter Burke TD said: “Gender balance should be a strategic priority for every business. From improved financial performance to increased innovation, prioritising the development of balanced leadership can unlock valuable business benefits that enhance the competitiveness of Irish business. As the incoming Co-chair of the initiative, Bernard will play a critical role in working with the business community to accelerate change and build a more equitable, diverse and inclusive business ecosystem.
I’d like to thank our outgoing Co-chair, Aongus Hegarty for the integral part he has played in steering the work of the initiative over the past three years. During his term as Co-Chair, Irish businesses made significant progress in gender balance at leadership level, with ISEQ20 companies reaching a milestone of 40% average female representation on company boards. However, there is still more work to do. Over the coming months, I’m looking forward to building on this progress and working together with Co-chair Carol Andrews, Bernard and businesses across the country to drive this important work forward and help every organisation realise the benefits of balanced leadership.”
Balance for Better Business Co-Chair, Carol Andrews said: “It has been a privilege to co-lead the Balance for Better Business initiative with Aongus and support businesses around the country advance balanced leadership. His work in developing our five-year strategy has been invaluable and he has helped make a lasting impact on the business landscape.
Looking ahead, I’m excited to welcome Bernard Byrne as the new Co-chair of Balance for Better Business. With leadership experience across a range of large public and private organisations, he has the skills and knowledge to help organisations around the country accelerate change and build a more inclusive system of leadership.”
Speaking on his appointment, Bernard Byrne, incoming Balance for Better Business Co-Chair said: “I am delighted to take up my role as Co-Chair of Balance for Better Business and build on the initiative’s success in driving gender balance across Irish business. Gender balance is a strategic imperative and it’s crucial that we support all organisations, large and small, across every sector of the economy, to realise the benefits of balanced leadership. I’m looking forward to working closely with my Co-Chair Carol Andrews and the Balance for Better Business review group to help businesses across the country accelerate their gender balance journey.”
For more information on Balance for Better Business go to www.betterbalance.ie
ENDS
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Notes to Editor
Balance for Better Business (B4BB)
Balance for Better Business (B4BB) is an independent business-led Review Group established by the government in July 2018 to improve and promote gender balance at board and leadership level of Irish business, which in turn will drive better business and societal outcomes.
Biographies
Carol Andrews is Managing Director and Global Head of Client Service Delivery, BNY Mellon. Carol is a graduate of the Women’s Leadership Forum, a Harvard Business School leadership development programme. She is also a founder, former Country Lead and a current steering committee member of the 30% Club Ireland as well as being a member of the Advisory Council for Irish Management Institute, a board member of the Vodafone Foundation Ireland and a member of the Bank of Ireland Gold Sovereign Programme Committee.
Bernard Byrne
Bernard Byrne is a Chartered Accountant with significant leadership, financial and commercial experience as well as a deep understanding of the Irish market and economy. Bernard most recently served for as CEO of J+E Davy, Ireland’s largest independent stockbroking and wealth management business. During his time at Davy he played a key role in the growth of the business, the launch of its ESG advisory arm, the sale of the company, and its integration into the Bank of Ireland Group. Prior to this, Bernard served as CEO of AIB Group plc leading the successful rationalisation and IPO of the bank. He joined AIB in 2010 as CFO of the Group and also headed up the Retail, Commercial and Corporate banking activities during his tenure. He has been a long serving supporter and a Co-Chair of the Financial services arm of the 30% Club.