Cormac McCarthy appointed to board of DCC

Former Paddy Power CFO and Ulster Bank chief executive to take up role

Cormac McCarthy stepped down from his role with Paddy Power following its merger with Betfair

Cormac McCarthy stepped down from his role with Paddy Power following its merger with Betfair

 

DCC, the fuel-to-electronics conglomerate, has appointed Cormac McCarthy to its board as a non-executive director.

The company said Mr McCarthy, who will take up the role with immediate effect, has also been appointed to the audit committee.

Mr McCarthy was most recently chief financial officer of Paddy Power, having joined the company in 2011 as a non-executive director. He was appointed CFO in 2012. He stepped down in February following the merger of Paddy Power and Betfair.

Mr McCarthy was chief executive of Ulster Bank from 2004 to 2011, during which time he also served in various roles within Royal Bank of Scotland, including deputy chief executive of their retail division in the UK (2010 to 2011) and chief executive of their retail and commercial division in Europe and the Middle East (2007 to 2009).

David Byrne, a non-executive director, deputy chairman and senior independent director, said he is to retire from the board after the company’s annual general meeting on July 15th. Mr Byrne has held these positions since January 2009.

DCC chairman John Moloney, said: “I warmly welcome Cormac to the board. His recent CFO experience, combined with his previous leadership experience, make him an excellent addition to the board.”