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The Journal
4 days ago
- Business
- The Journal
What's the beef between this previous and current presidential hopeful?
PRESIDENTIAL HOPEFUL GARETH Sheridan, a millionaire most people in the country had not heard of before this week, kick-started his campaign today with a jaw-dropping accusation. Sheridan held the first press conference of his presidential campaign in Dublin's Shelbourne Hotel this morning and chose to open it by claiming that there has been a coordinated attack on his character. He claimed that this attack came from people associated with Seán Gallagher, the businessman and former Dragon's Den star who came second in the 2011 presidential election. The Journal put Sheridan's claims about Gallagher today to a spokesperson for Seán Gallagher, but has not received a response. So far, Gallagher has chosen not to comment on his relationship with Sheridan or on his departure from Nutriband. Addressing his past business relationship with Gallagher, Sheridan mused at the outset of his press conference today: 'Perhaps somebody is taking our breakup a little bit worse than me'. The Journal / YouTube Speaking directly to the journalists gathered in the Shelbourne Hotel in Dublin for his launch, Sheridan said the coverage they have given of his campaign so far has been 'commendable'. He continued: 'But, just one thing I wanted to bring to your attention is that there seems to be somewhat of a coordinated attack taking place on my character by people associated and in Seán Gallagher's circle.' He quickly followed this up by adding: 'Now, I'm not saying for a moment that Seán is behind this or involved in any way. 'At MacGill [Summer School] a couple of weeks ago he actually encouraged participation, asked the media to be nice to candidates that were brave to come forward and actually put their name in the ring. Advertisement 'But some of you in the room know what I'm talking about. That's all I'll say about that.' The Journal / YouTube So what the hell has gone on between the pair to merit such a statement from Sheridan at the outset of his campaign? The background How do Sheridan and Gallagher know each other? Sheridan, the 35-year-old multi-millionaire, is the founder and former CEO of US-based pharma company Nutriband. Seán Gallagher became chairman of the firm in 2018 and departed four years later in 2022. Asked about their relationship during a radio interview on Monday, Sheridan said he had not been in contact with Gallagher to get any advice about running for office. What do we know about Gallagher leaving the company? Sheridan and his company, Nutriband, only really gained mainstream recognition in Ireland earlier this week when he announced his bid for the Áras. Since then, journalists have been looking into the presidential hopeful, and there have been numerous reports on both him personally and on his company. Some of these related to Gallagher's departure from the company. On Tuesday, there were reports of 'mystery' surrounding his exit , but by Wednesday morning, the Irish Independent had reported that Gallagher had left the company's board over a row related to a $180,000 corporate box. Related Reads Millionaire Áras hopeful launches presidential campaign in the Shelbourne - here's what he said The millionaire millennial seeking the presidency: How did Gareth Sheridan get so rich? Catherine Connolly is using American-style grassroots fundraising for her presidential campaign According to the report, Gallagher raised concerns about the box at the Orlando Magic basketball arena, and in a statement to the Irish Independent, Sheridan insisted that the box makes a 'great return'. The statement from Sheridan further explained that communication broke down between the company and Gallagher in 2022, ahead of his resignation. What was the breakdown in communication about? Sheridan used his press conference today to shed some further light on this breakdown and on the pair's relationship. He explained that ahead of Nutriband being listed publicly on the stock exchange in 2021, it had received advice that it would be better to have a chairperson with capital markets experience. 'We proposed this to Seán. We asked him to voluntarily step aside on the same remuneration,' Sheridan said. He then explained that Gallagher was not agreeable to this, communication broke down, and a new chairperson was voted in by a majority of shareholders. 'I wish Seán nothing but the best in whatever he's working on now. I'd just like to be very upfront and make sure that you're aware of the situation that we're facing. Perhaps somebody is taking our break-up a little bit worse than me,' Sheridan said. Sheridan has not yet formally received a nomination to run in this year's presidential election. To date, Catherine Connolly is the only candidate formally in the race following the unexpected withdrawal today of Fine Gael's Mairead McGuinness. Readers like you are keeping these stories free for everyone... Our Explainer articles bring context and explanations in plain language to help make sense of complex issues. We're asking readers like you to support us so we can continue to provide helpful context to everyone, regardless of their ability to pay. Learn More Support The Journal
Irish Examiner
5 days ago
- Business
- Irish Examiner
Gareth Sheridan accuses people in Seán Gallagher's 'circle' of 'coordinated attack'
Presidential election hopeful Gareth Sheridan has accused people in former business associate Seán Gallagher's "circle" of leaking negative stories to the press. In an extraordinary intervention, Mr Sheridan stated that there had been a "coordinated attack" on him. Mr Gallagher previously served as chairman of Mr Sheridan's pharmaceutical company, Nutriband, from 2017 to 2021. Mr Gallagher also previously contested the presidential election in 2011 and 2018. Before starting his campaign launch at a press conference in the Shelbourne Hotel, Dublin, Mr Sheridan said he wanted to bring to reporters' 'attention the journalism and coverage of our announcement and our campaign'. 'There seems to be somewhat of a coordinated attack taking place on my character by people associated and in Seán Gallagher's circle,' he said. 'I'm not saying for a moment that Seán is behind this or involved in any way. At MacGill [Summer School] a couple of weeks ago, he actually encouraged participation, asked the media to be nice to candidates that were brave, to come forward and encourage candidates to put their name in the ring. 'Hopefully, that's still the case. But some of you in the room know what I'm talking about. That's all I'll say on that. 'For a couple of days now, we've been receiving essentially copy-and-paste question lists with minimal time to respond from various different outlets with the exact same questions. Something just seems a little off.' Mr Sheridan said Mr Gallagher was chairman of Nutriband for a 'number of years'. The company received Nasdaq listing in 2021. He said that leading up to this, it was advised that the chairman of the company should have capital markets experience. This was put to Mr Gallagher, and he was asked to "voluntarily step aside" but stay on as a director, and Sergey Melnik was appointed. Mr Sheridan stated that 'communication broke down' at this point. 'I wish Seán nothing but the best [in] whatever he's working on now,' he said. 'I'd just like to be very upfront and make sure that you're aware of the situation that we're facing. 'Perhaps somebody is taking our breakup a little bit worse than me.' Mr Sheridan denied that this was an 'attack' on Mr Gallagher and added that he has 'no way of saying Seán is involved'. He then spoke about 'hysterical headlines in the newspapers'. When asked what hysterical headlines he was talking about, Mr Sheridan referenced coverage that referred to him as a 'multimillionaire tycoon', arguing that he had never 'used the word tycoon in a sentence'. This is despite Mr Sheridan referring to himself as a 'multi-millionaire pharma tycoon' in his own opening remarks, as well as later in the press conference. Elsewhere at the press conference, Mr Sheridan confirmed he has a net worth of $16.5m. This includes $16m in Nutriband shares and €500,000 in the bank. The 35-year-old has said he is confident of having a proposer and seconder at least four county councils. He is seeking to run as an independent candidate. Read More 41686941;41687004;41686095[#embed2]
Irish Times
07-08-2025
- Business
- Irish Times
Shelbourne Hotel in Dublin to spend €50m upgrading its bedrooms
The new owners of the five-star Shelbourne Hotel in Dublin will begin a €50 million upgrade of the property from late October. This will involve renovating 226 of its 265 rooms as part of a year-long refurbishment programme. The Shelbourne, which opened its doors in 1824 and is located overlooking St Stephen's Green, was acquired by Archer Hotel Capital in 2024 for a reported €260 million. Archer also owns the nearby Conrad hotel. The refresh of the Shelbourne's guest rooms – specifically the queen, deluxe, and heritage premium categories – will be led by Kenmare interior designer Bryan O'Sullivan, whose previous projects include work on Claridge's, The Connaught, and The Berkeley hotels in London. READ MORE 'The Shelbourne is a historically important building – not just for Dublin, but for Ireland,' Mr O'Sullivan said, adding that he wanted to 'craft a guest experience that feels authentic, timeless and grounded in place'. [ Shelbourne Hotel in Dublin sold to Archer Hotel Capital Opens in new window ] While some existing pieces will be retained, new custom-designed carpets will reference the work of artist Louis le Brocquy, while a collaboration with Dublin's Kerlin Gallery is being explored to source contemporary Irish artworks.
Irish Independent
03-08-2025
- Business
- Irish Independent
State spends €3,400 on Kenyan speaker's Shelbourne Hotel stay
Leinster House spent €3,400 on a suite at the Shelbourne Hotel in Dublin for a three-night-stay for the speaker of the Kenyan parliament.
Irish Times
20-05-2025
- Business
- Irish Times
Irish property investment levels rose in 2024 from low level
Flows of financial capital into the Irish property market improved somewhat last year, but investment in the private rented sector was little changed, according to a new report from Sherry Fitzgerald . Overall, capital flows into the market here increased by 13 per cent to €28.7 billion in 2024, after a 6 per cent decline in 2023 from more than €27 billion in 2022, the property agent said on Tuesday. The residential property market accounted for 84 per cent of total capital inflows last year, Sherry Fitzgerald said, or €24.2 billion, up 6 per cent. Household purchases accounted for €19.7 billion of the total. Across different segments of the commercial property market, however, 2024 was a mixed year. READ MORE Total capital flows into commercial property – including all commercial transactions, development land sales valued at €1 million or greater – were up 75 per cent to €4.5 billion, albeit from a very low base in 2023 when investment fell to the lowest level in a decade amid soaring borrowing costs. The headline figure was buoyed by a positive year for the hotels sector, where capital inflows reached record levels of €939 million, Sherry Fitzgerald said. Several high-profile properties changed last year, including the Dean Hotels group and the Shelbourne Hotel in Dublin. However, excluding the private rented sector, student accommodation and hotels, direct commercial investment increased by 39 per cent to €2 billion, Sherry Fitzgerald said. This was around 35 per cent below the long-term average of €2.7 billion, a spokeswoman for the property agent said. Investment in the private rented sector stood at €246 million for the year, the weakest level since 2017, according to the report. Dublin's moribund office market, in which few deals have been completed since 2022, has dragged significantly on headline commercial property investment levels in recent years. While take-up of office space has improved in the early part of 2025, it remains well below the long-term average, according to separate industry reports published in recent months. Brian Carey, commercial director at Sherry Fitzgerald, said the market in the Republic is 'poised for investment amid 'signs of recovery in the office market'. Jean Behan, senior economist and head of research at the property agency, said there was 'significant improvement' in capital flows into the Irish property market last year. 'The outlook for the year ahead is more uncertain, however, as tariffs and future policy changes by the Trump administration weigh heavily on business and investor decisions,' she said. 'That said, borrowing costs are anticipated to ease further in 2025, while the Irish economy is expected to remain resilient.'
