It has been announced today that the chief financial officer of Eircom is to leave the company. Malcolm Fallen is relocating to Britain to take up a position with a British telecoms company. Eircom say that Mr Fallen's departure is due to family commitments.
Malcolm Fallen, together with Eircom's Chief Executive, Alfie Kane, came in for criticism from shareholders at last week's annual meeting about the level of bonuses and share options being allocated to them. However, Eircom say that his decision to quit the company is purely for personal reasons.
Malcolm Fallen is 40 years old and currently living in Enniskerry with his second wife and their two young children. He also has two children from his first marriage; they live in the UK and he wants to relocate there so he can spend more time with them. Malcolm Fallen has accepted the position of Chief Financial Officer with Kingston Communications in the North of England. The company is about a tenth the size of Eircom.
Mr Fallen was appointed Chief Financial Officer of Eircom a year and a half ago. He joined the board of directors shortly afterwards. It is understood that he earned in the region of half a million pounds last year between salary and bonus payments. Today, a spokesman for Eircom said that there was a question of Malcolm Fallen retaining share options in the company.
