Bord Gais has appointed a new group chief executive, it is understood. He is Mr Gerry Walsh, the head of business development assets. It is understood that a formal announcement of the appointment will be made later this week.

Mr Walsh had been leading the company's diversification strategy and was one of three internal candidates who applied for the post, held by Mr Phil Cronin who retired last month.

The post commands a salary of up to £150,000 per annum.