IPM Irish Life&P.Gp

RNS Number:9417Y
Irish Life & Permanent PLC
21 May 2004





May 21st 2004

Board changes in Irish Life & Permanent plc


Irish Life & Permanent plc announced at its Annual General Meeting today the
retirement of its Chairman, Mr. Roy Douglas, The retirement of Mr. Douglas takes
effect from June 3rd next, his 60th birthday. The Board has appointed Ms.
Gillian Bowler to succeed him as Chairman from that date.

Speaking to the AGM today, Mr. Douglas said that his focus over his four years
as Chairman had been "to oversee the merger and integration of firstly Irish
Life and Irish Permanent and, more recently, Irish Permanent and TSB Bank and
the creation of a Board to lead the Group to its current position as a leading
provider in the Irish retail financial services market".

He continued; "I see my retirement as the natural conclusion of that process and
now is the right time to appoint a new Chairman to lead the Company into the
next phase of its development."

The incoming Chairman, Ms. Gillian Bowler joined the Board of what was then
Irish Life plc a few months prior to its 1999 merger with Irish Permanent. All
the other non-executive Directors joined the Board at the time of, or since, the
merger that created the new Group.

Speaking today, the incoming Chairman of the Group, Ms. Gillian Bowler, and the
Chief Executive, Mr. David Went, paid tribute to Mr. Douglas. In a joint
statement they said; "Roy has been one of the major figures in financial
services in Ireland for more than two decades. His stewardship of what was then
Irish Permanent plc through a very successful flotation (1994) would have been
the high water mark of many careers. But Roy went on to even greater success in
the merger of Irish Permanent with Irish Life (1999) the acquisition of TSB
(2001) and the launch of permanent tsb bank (2002). These events laid the
foundations for the success of Irish Life & Permanent plc today. It's no
exaggeration to say that they simply wouldn't have happened without Roy's vision
and skills. On behalf of everyone in the Group we want to thank Roy for his
years of service and we wish him, his wife Anna and his family every happiness
in his retirement."

Gillian Bowler CV

Gillian Bowler is the founder and Chairman of Budget Travel, a highly innovative
and customer focused company that she grew to become Ireland's leading travel
company (owned by the worldwide TUI AG organisation since 1996).

Ms. Bowler serves as a non-executive director of several leading companies
including Grafton Group plc and the Voluntary Health Insurance (VHI). She is
also Chairman of Failte Ireland - the National Tourism Development Authority.

Ms. Bowler is a past President of the Institute of Directors (2000 - 2002). She
chairs the executive committee of the joint Institute of Directors/University
College Dublin Centre of Corporate Governance. She is a board member of the
Michael Smurfit Graduate School of Business at UCD.



For further information contact:


Name            Telephone  No.   Mobile No.          Email address
              
Barry Walsh     01-7042678       087 6818157      barry.walsh@irishlife.ie
                             
David McCarthy  01-8563050       087 2567292      david.mccarthy@irishlife.ie
    
              
Media:

Ray Gordon      01-6788099       087 2417373      ray@mrpa.ie
                                     






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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