Play
Stop
Six One News: David Murphy, Business Correspondent, reports that all of the bosses of the Irish banks during the boom have now departed
Play
Stop
Six One News: Senator Shane Ross says the move is welcome but comes too late for shareholders
Allied Irish Bank has announced major changes to its top management.
The bank's chief executive Eugene Sheehy, its chairman Dermot Gleeson and its finance director John O'Donnell are all to stand down.
Dan O'Connor, who joined the AIB board in 2007, will succeed Mr Gleeson as chairman and David Pritchard, who joined the board in 2007, has been appointed to the new post of deputy chairman.
A statement from AIB said a process would be put in place immediately to find a replacement for Mr Sheehy 'in the coming months'.
Mr Sheehy will stay on until his successor is appointed.
AIB said it had consulted Minister for Finance Brian Lenihan about the changes.
