Businessman Michael Carey steps down from two state agencies following late account filings
BUSINESSMAN Michael Carey has stepped down as Chairman from both Enterprise Ireland and the Housing Agency following late account filings for his company, East Coast Bakehouse.
Mr Carey, who is Executive Chairman and a major shareholder at the biscuit manufacturer in Drogheda, Co. Louth, said it was with regret that he was stepping away from the voluntary positions.
However, he denied any suggestions of financial issues with his company, saying the issue of late filings was widespread and that his firm was only highlighted due to his state agency roles.
"I would like to thank Michael Carey for his work and dedication to Irish enterprises over the last two years as Chair of Enterprise Ireland and wish him all the best in the future," said Peter Burke, Minister for Enterprise, Tourism and Employment. Administrative errors
Mr Carey said the late account filings with the Companies Registration Office (CRO) for the East Coast Bakehouse was down to management administrative errors.
He added that the delay was compounded by an unexpected need to change auditors and that the accounts for the periods affected are completed and expected to be filed next month.
"The widespread issue of late filings of accounts with the CRO has been highlighted in recent months, with over 15,000 firms in a similar position each year," he said, as reports the Irish Independent.
"This issue of this late filing at East Coast Bakehouse has received particular media attention due to my role as chairman of these state agencies.
"I accept personal responsibility for the failure of the business to comply with this corporate governance requirement and the heightened requirement to fully comply, as chairman of a number of state boards.
"A late filing fee will be paid as appropriate and actions have been taken to avoid any future reoccurrence.
"In order to avoid embarrassment to the ministers and any distraction from the crucially important jobs undertaken by these two agencies, I will step aside from these roles with immediate effect." 'Dedicated to supporting Irish exporting businesses'
A statement from Enterprise Ireland said that since Mr Carey was appointed Chairman in September 2023, companies it supports have delivered record job growth and export results.
"Michael gave huge time and commitment as Chairman and was dedicated to supporting Irish exporting businesses at all stages of their development," said Kevin Sherry, Interim CEO of Enterprise Ireland.
"Throughout his time as Chairman, he constantly focused on how our organisation can better support Irish businesses.
"He brought the voice of the client and the insights of an entrepreneur to the table ensuring that clients were at the heart of every conversation."
A statement from the Housing Agency said that after being appointed in 2018, Mr Carey oversaw a period of rapid growth for the agency, which saw its role and functions greatly expanded.
It added that Mr Carey's leadership helped steer the organisation through this period of change.
"Michael has been a committed leader whose extensive experience and skills have been greatly appreciated by the Agency," said CEO Martin Whelan.
"We thank him for his many years of service."
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