Barry O’Leary, former IDA Ireland chief, dies aged 71

Barry O’Leary, the former chief executive of IDA Ireland, died on Thursday aged 71.

Mr O’Leary was appointed chief executive of IDA Ireland in 2008 at a time when there was significant economic turmoil and challenges, not least to Ireland’s reputation. He held the role until 2014 and was awarded an honorary doctorate from University College Dublin on his departure.

IDA Ireland chief executive Martin Shanahan, who succeeded Mr O’Leary, said the success of the State’s economic model was built on the work of Mr O’Leary and his predecessors.

“It is with great sadness that we have learned of former IDA Ireland CEO Barry O’Leary’s passing yesterday afternoon in Dublin,” he said. “Barry gave over 38 years of distinguished service to the organisation.

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“Barry fought tirelessly to win investment for Ireland throughout his extensive career and examples of the projects he was influential in winning are dotted across the country to this day.

“I was always impressed by his passion for IDA and the job that he was doing and his singular focus on winning investment for Ireland.

“I am conscious that the success in winning investment that IDA Ireland enjoys today is built on those that went before and Barry contributed a huge amount to the foundation that IDA is now built on. Barry’s work epitomised public service and he made a huge contribution to IDA Ireland and the State.”

Before his time as chief executive, Mr O’Leary was divisional manager of the IDA’s life sciences and information and communications technology business units.

He worked in most IDA business areas over his career, including as director of Europe where he was closely associated with winning big projects from companies such as Bertelsmann, SAP, Deutsche Bank, Lufthansa, Kostal and Allianz.

He was involved in changing the profile and raising the value of Ireland’s inward investments over many years, focusing on building capability in strategic sectors such as life sciences and information and communications technology.

He led IDA teams in winning significant investments from key clients such as Eli Lilly, Pfizer, Centocor, Boston Scientific, Cordis, IBM, Kelloggs, Merck, Citi, Cisco Systems and Facebook.

Under his leadership in 2010, the IDA launched its strategy blueprint Horizon 2020 articulating how it would attract the next wave of foreign direct investment.

Mr O’Leary had held a number of different positions in industrial companies before joining IDA Ireland, including Nestlé and the Smurfit Group. He was also a board member of Forfás.

After he stepped down as chief executive of IDA, he joined the boards of Targeted Investment Opportunities, a property company backed by Oaktree Capital, IDA-backed Zurich Insurance and the Irish arm of German construction management M+W Group.

His death notice on Friday said he died at Our Lady’s Hospice, Harold’s Cross, Dublin.

“Beloved husband of Mairéad and much-loved father of Ciarán and Barry, he will be greatly missed by his family, daughter-in-law Charlotte, granddaughters Matilda and Olivia, brothers Ben and Ken, brothers-in-law, sisters-in-law, nieces, nephews, extended family, friends and former colleagues at the IDA,” it said.

His removal to the Church of the Holy Name, Beechwood Avenue, will take place on Tuesday morning, arriving at 10.50am for funeral Mass at 11am followed by burial at Kilternan Cemetery Park.