It’s just been announced that one of the most influential Irish business leaders of his generation, Gary McGann is to retired from his position as Chief Executive of the global paper and packaging Group, Smurfit Kappa in August.

He’ll be succeeded by Tony Smurfit, son of Michael Smurfit and current Chief Operations Officer in the Group.

Prior to his appointment as Chief Executive of Smurfit in 1998, Gary McGann was chief executive of the drinks group, Gilbeys and of Aer Lingus where he developed the airline’s transatlantic business, but prior to his departure had a difficult relationship with then Transport Minister, Mary O’ Rourke.

After a very challenging financial period following Smurfit Kappa’s IPO in 2007, McGann has improved the efficiency of its global plans, slashed debts and transformed it into one of the best performing stocks in the industrial sector – for which he was rewarded as Ireland’s most highly-paid chief executive last year.

He is a former non-executive director of Anglo Irish Bank and resigned with all other non-execs when that bank was nationalised in 2009.