Carey Resigns as Chairman of Enterprise Ireland – Irish Times
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Michael Carey‘s Resignation from enterprise Ireland and the Housing Agency: A Timeline and Analysis
Table of Contents
Updated September 5, 2025, at 05:51:14 EDT
What Happened?
Michael Carey resigned as chairman of both Enterprise Ireland (EI) and the Housing Agency in June 2024. The resignation stemmed from the late filing of financial accounts for his company, East Coast Bakehouse. This delay created a potential political issue for Minister Peter Burke, who oversees the Companies Registration Office (CRO).
The Timeline of Events
the events leading to Michael Carey’s resignation unfolded over several months. Here’s a breakdown:
- Early 2024: East Coast Bakehouse fails to file its accounts on time with the Companies registration office (CRO).
- May 2024: The delay in filing accounts becomes known to Enterprise Ireland and the Department of Enterprise.
- June 2024: Michael Carey informs the EI board of his intention to resign, citing the potential for embarrassment to Minister Burke. he states he wanted to remain in the role but felt he had no choice.Enterprise Ireland
- June 2024: carey formally resigns from both Enterprise Ireland and the Housing Agency.
east Coast Bakehouse and the Delayed Accounts
East Coast Bakehouse, founded by Michael Carey, is a significant producer of biscuits and other baked goods in Ireland. The company’s failure to file its accounts on time with the CRO is a statutory requirement violation.Companies in Ireland are legally obligated to submit their financial statements within a specified timeframe, typically six months after their financial year-end. Failure to do so can result in penalties and reputational damage.
According to the Companies Registration Office, late filing penalties increase with the length of the delay. These penalties can range from relatively small fines for minor delays to more substantial charges and potential legal action for prolonged non-compliance.
The Role of Minister Peter Burke
Minister Peter Burke, as Minister for Enterprise, Trade and Employment, has overall responsibility for the Companies Registration Office.The late filing of accounts by East Coast Bakehouse, a company chaired by a prominent figure like Michael carey, presented a potential political challenge for Minister Burke. The situation could have led to questions about the enforcement of company law and the government’s commitment to corporate governance.
Enterprise Ireland’s Response
Enterprise Ireland, the government agency responsible for supporting Irish businesses internationally, accepted Michael Carey’s resignation. EI acknowledged Carey’s contributions during his tenure as chairman but emphasized the importance of maintaining the highest standards of corporate governance. the agency initiated a process to appoint a new chairman.
Impact and Implications
This incident raises several significant questions about corporate governance in Ireland:
- Accountability: The case highlights the importance of holding company directors accountable