Mr Owen Killian (50), who will replace Mr Philip Lynch as IAWS chief executive, joined the firm in 1977, with a position within its seed division.He has passed through various ranks within the firm and was appointed chief operating officer in 1997.

He has worked closely with Mr Lynch for much of his career and has played a central role in the group's acquisition policy in his current position.

Mr Lynch yesterday described Mr Killian as an "exceptional choice" for the chief executive position.

Mr Killian, who is well respected in the market, said he looked forward to working with an "outstanding team" at IAWS.

He paid tribute to Mr Lynch for "building the group from small beginnings to a major international business".

Mr Killian comes originally from Co Roscommon.