McClay to step down at Galen

One of the North's best-known entrepreneurs is retiring from the firm he founded 33 years ago, which made him a multi-millionaire and won him the respect of business communities from Northern Ireland to the US. Dr Allen McClay will step down as president of Galen Holdings at the end of the month. He is a significant shareholder in the group and plans to retain his 20.57 per cent stake in the firm when he retires.