The chief executive of Waterford Crystal, John Foley, has resigned. He joined the company in 1991 and has been CEO since September 2000.

Mr Foley was also a member of the main board of Waterford Wedgwood plc and president of Waterford Wedgwood USA. He has also stepped down from these positions.

In a statement, Mr Foley said the events of the past few weeks - during which Waterford Wedgwood has gone into receivership - had been devastating for everyone associated with the company.