Reynolds joins Smurfit board

DR Michael Smurfit has announced the appointment of Mr Ray Curran and Mr Albert Reynolds to the board of the Jefferson Smurfit Group.

The appointments bring the number of group directors to 17, including eight executive directors. But non executive director Mr Eoin Ryan has decided to retire in May, which will reduce the number of board members to 16.

Mr Curran, who has been chief financial officer of the group since 1992, is now an executive director of the group. Mr Reynolds who served as Taoiseach between 1992 and 1994 becomes a non executive director.

Mr Curran joined Smurfit in 1981 and became finance director of the group's financial services division in that year. He rose rapidly in the group, becoming chief executive of Smurfit Paribas in 1988 and chief financial officer of the group in 1992.

Group chairman Dr Smurfit said he was very pleased to welcome Mr Curran on to the board.

"Ray has shown himself to be an astute financial manager and has been responsible for numerous very positive initiatives since his appointment as chief financial officer. His appointment to the board is a well deserved recognition of his abilities".

Dr Smurfit said he looked forward to working with Mr Reynolds. "He will bring him broad skills, and extensive experience and knowledge gained in a long and successful business and political career."

Dr Smurfit said he was sad to see Mr Ryan retire. "He is the last member of the board, other than myself, who has served for the whole period since the company went public in 1964. His knowledge of and commitment to the company are enormous and his contribution over the years has been outstanding," he said.