Irish property developer Ballymore said on Friday it expects 45 to 50 people to exit the company in 2008 following an 'extensive business review' aimed at increasing the firm's international focus. The company also announced a management reshuffle, with founder Sean Mulryan stepping down as CEO to take up the position of executive chairman in charge of identifying 'new opportunities'. David Brophy, the current COO, has been appointed CEO with immediate effect, Ballymore said.
Irish property developer Ballymore said on Friday it expects 45 to 50 people to exit the company in 2008 following an 'extensive business review' aimed at increasing the firm's international focus. The company also announced a management reshuffle, with founder Sean Mulryan stepping down as CEO to take up the position of executive chairman in charge of identifying 'new opportunities'. David Brophy, the current COO, has been appointed CEO with immediate effect, Ballymore said.
'These changes reflect the primary challenge for the Ballymore Group – that of managing significant growth while maintaining operational and design excellence. The current demanding economic times bring with them enormous development opportunities globally for Ballymore and David's appointment allows me to concentrate on pursuing those opportunities around the world. David will be responsible for the profitable operation of the group and for maximizing return on investment,' Mulryan said.
