I-RES REIT, Ireland’s largest private landlord, has named Eddie Byrne, former Quintain executive, as its CEO Designate, succeeding Margaret Sweeney, who announced her retirement in October. Byrne will assume the role on April 8th and officially take over as CEO and Executive Director on May 1st, following Sweeney’s departure.
Sweeney has led IRES for six and a half years, during which time she and other senior management members faced a challenge from activist shareholders unhappy with the company’s performance.
The shareholders, led by Vision Capital, sought to replace directors and conduct a strategic review, including options like breaking up and selling the business. However, I-RES is now conducting its own strategic review, overseen by new chair Hugh Scott-Barrett, which Byrne will help implement.
Byrne expressed enthusiasm for joining I-RES at a time of significant change in the real estate sector. He looks forward to working with the board, led by Scott-Barrett, to explore opportunities for value creation as part of the strategic review, and collaborating with the I-RES team, partners, and stakeholders to realize these opportunities.
Before joining I-RES, Byrne was Joint Managing Partner at Quintain Developments, where he co-founded Irish operations that secured over 5,000 planning permissions, built and sold around 1,500 rental and private homes, and raised substantial growth capital.
He also served as managing director at Hudson Advisors Ireland, overseeing multibillion-euro real estate acquisitions and disposals.
Scott-Barrett praised Byrne’s extensive real estate experience, particularly in the Irish residential sector, highlighting his ability to build teams, engage with local authorities, raise capital, execute transactions, and develop strategic initiatives.
Byrne’s appointment is seen as a valuable addition as I-RES pursues its strategic review to maximize shareholder value.
