Martin Shanahan’s sudden exit from IDA should raise eyebrows

Martin Shanahan this week left the IDA and started a period of gardening leave before taking up a role as a partner with advisory firm Grant Thornton, as its new head of industry and foreign direct investment.

Shanahan left the IDA in something of a pickle this week, when he abruptly resigned and started a period of gardening leave before taking up a role as a partner with advisory firm Grant Thornton, as its new head of industry and foreign direct investment. When Shanahan originally indicated his intention to leave in July, he indicated that he intended to stay on until early next year. Now he has walked out the door and the State’s inward investment agency has scrambled to appoint an interim chief executive to liaise with foreign investors, right at a period of increasing uncertainty in the global economy.

He is, undoubtedly, an excellent hire for Grant Thornton, which he says he wants to make the “first port of call” for advice for foreign investors looking to come into Ireland. Presumably, when he takes up his role at the firm, he will be able to advise foreign investors on exactly what sort of inducements they can expect to extract from the State, having been the person doling out most of them until this week.

Just in the Knick of time as multinationals like Twitter make layoffs 🤔

“he will be able to advise foreign investors on exactly what sort of inducements they can expect to extract from the State,” That’s public knowledge already.

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