The EY Podcast

In this episode of the EY CFO Outlook podcast, Kenmare Resources Finance Director, Tony McCuskey tells host, Vincent Wall the compelling story of an Irish company’s rise to the top of the exploration industry. It is a journey involving hostile environments, working with local governments and communities , maintaining relationships with partners and shareholders, and personal resilience.“We didn’t have any physical assets, what we had was a dream”. When Tony McCluskey joined Kenmare Resources in 1991 it was still a relatively small Irish exploration company. Today it is one of the world’s leading producers of titanium materials and zircon, quoted on the London stock exchange, and with a market capitalisation of £500 million.  The story of how Kenmare Resources has grown into what it is today is a fascinating one, but it has not been without its crisis points. Commodity prices can rise and fall sharply, and Kenmare Resources almost fell into the hands of new owners during a particularly rocky period. Leading the company’s finance function throughout that time, McCluskey clearly remembers the determination, perseverance, and support that saved them.They also talk about:·       Tony’s upbringing in Co. Kilkenny and why he always wanted to be part of a business·       His experience working in rural Mozambique·       The dramatic collapse in mineral prices that almost led to the loss of the company to new owners·       The importance of benefiting the community in which you run operate – funding schools, hospitals and agricultural programmes·       His key priorities as CFO. 

As a young science graduate, Audrey Derveloy’s goal was to have a positive impact on society. Now, as a leader of a global medicines company during a world-wide pandemic, that dream is being realised.  Novartis employs 1,400 people in Ireland, and the company uses innovative science and digital technologies to create transformative treatments in areas of great medical need such as Cardiology, Oncology and Immunology. Having spent several years in leadership roles at Novartis in France, Audrey was offered the role of General Manager and Country President of Novartis Ireland in early 2020, just before the COVID-19 pandemic began.  In this episode of The EY CEO Outlook Podcast, Audrey Derveloy, General Manager of Novartis Ireland, tells host Richard Curran about her aspirations as a young medical student, her lifelong love of science, moving her family to Ireland to run Novartis’ operations there, and her vision for the future of medicine.They also discuss: ·        Why COVID-19 is a valuable opportunity to build trust in the Pharma sector ·        Novartis’ footprint in Ireland and what kind of medicines it makes in this country ·        Why the future of Pharma lies in intelligent data ·        Audrey’s views on improving Irelands’ Pharma regulatory landscape  ·        Why the State may need to collaborate more with the pharma sector to develop innovative medicines. 

In this episode of The EY CEO Outlook Podcast, Noel Keeley, CEO of Musgrave Group, tells host Richard Curran about his rise to the top of Ireland’s number one grocer, his views on consumer behaviour and how they are changing, and why Musgrave Group’s company values are so important to the group’s success.___________________________________________For Noel Keeley, CEO of Musgrave Group, the basics of retailing are simple: “Give people what they want, when they want it, at a price they’re willing to pay”. And while so much has changed in retail, particularly as a result of COVID-19, Keeley believes that this fundamental approach will never change.  It was a lesson that he learned as a teenager while working for a number of years in his local supermarket in Tullamore, Co. Offaly. And despite at the time having no intention to continue his career in the retail sector, today Keeley finds himself running the country’s leading supermarket, SuperValu, applying that same simple approach.  They also discuss: ·    How Musgrave Group, an indigenous family-run organisation, successfully competed against the international multiples ·    Balancing consumers’ desire for quality locally-sourced food but at an affordable price ·    Keeley’s views on out-of-town retail development and why he wants to bring shops to people, not people to shops ·     His vision for the store of the future – experiences, solutions over products, and theatre ·     Overcoming the challenges of Brexit.  

“Like anyone with ambition you’re always looking for the next move”. Michael Rice’s career has been punctuated by a series of very significant phone calls, each of them offering him the chance to work in a dynamic new company and environment. And, crucially, every role was a stepping stone to the one that Michael holds today – CFO of Glenveagh Properties. Having worked for some of Ireland’s leading entrepreneurs and companies, including Dermot Desmond and Kingspan, Michael Rice was drawn to Glenveagh as it gave him the opportunity to put his own stamp on the role and direction of the business. At the time Glenveagh was a new entity but one that, like Michael, had great ambitions. There was also a potential IPO on the horizon. Looking back on the decision Michael describes it as “a calculated risk, but one that certainly paid off”.In this episode of The EY CFO Outlook podcast, Michael Rice talks to host Vincent Wall about his journey to the position of CFO of publicly-listed Glenveagh Properties, his views on the future of the Irish housing market, and what drives him to succeed. They also discuss:·         His experience of working directly with some of Ireland’s leading CEOs and CFOs·         Executing an IPO and maintaining good investor relations. ·         Why IT Security keeps him awake at night ·         The CEO CFO relationship and why it is critical ·         The advice he would give to other CFOs.

What issues are top of mind for the CEOs of Ireland’s leading organisations? This is the question that the EY CEO Imperatives study set out to answer, and the results are revealed in this episode of The EY CEO Outlook podcast series.305 CEOs of the Forbes Global 2000 were surveyed about their perspectives on the DNA of the future enterprise, and the findings provide a fascinating insight into how the Covid-19 pandemic has rearranged and changed the priority list for business leaders.In this podcast, EY Ireland Head of Markets, Graham Reid, discusses the survey results with host Richard Curran, covering areas including:· The rise of purpose and empathy as a highly-valued characteristic in senior leaders.· Intangible value – what it is, and why so many CEOs value it so highly?· Why the hybrid work model is the future.· Mitigating digital risk while building trust and security.· Building Sustainability into all areas of the business, and why that is a rewarding long term play.

Mark Garvey became Group CFO of Glanbia in 2013, a time of significant change for the company. It was rapidly transitioning into a global performance nutrition and ingredients business, with acquisitions and joint ventures forming a core part of this successful diversification and expansion strategy.   However, in 2019 Glanbia hit a ‘speed bump’ in its performance nutrition business, requiring an adjustment to expectations of profit and the deployment of an extensive transformation programme. A year later, COVID-19 hit and, again, a new strategy was required. As Group CFO, Mark was a core part of the team driving Glanbia’s strategic reaction to both events, and he has witnessed the positive results first-hand.  In this episode of The EY CFO Outlook podcast, Mark Garvey talks to host Vincent Wall about the fascinating transformation of Glanbia from a dairy processing business to a global performance nutrition and ingredients giant. Employing over 7,600 team members across 34 countries, Glanbia truly is an Irish success story, and this interview reveals many of the driving factors behind its success. Mark and Vincent also discuss: The changing consumer and how COVID-19 has led to a greater focus on health and wellness, and why that is significant for Glanbia The proliferation of data and how it is being used to understand customer psychology and behaviour The importance of good investor relations – communication and reassurance in difficult times How the role of CFO has changed and expanded, and the qualities of an effective CFO Glanbia’s target of achieving Net Zero Carbon by 2050. 

Economic Eye podcast host Richard Curran talks to EY Ireland Chief Economist, Neil Gibson, about current key economic indicators and the impact they are having on business across the entire country. In this episode, Neil outlines the findings of the Economic Eye Spring 2021 Forecast: ‘Recovery – but at what price?’. Topics include:Two economies at either end of the growth charts in 2020Similar labour market disruptionA spending surge is comingThe sustained period of low-price inflation may be overTough times ahead for policymakersA new era of investment is on the horizon

Steve Bowcott had effectively retired when he got the call about the role of CEO at John Sisk & Son Ltd. Having worked in PLCs for most of his career, Bowcott was intrigued by the idea of working for a private, family-owned company, with a long history and a clear purpose.  Now, almost six years after taking up the role, Steve finds himself steering John Sisk & Son Ltd. through what is arguably one of the more challenging periods in its 160 history. The COVID-19 lockdown has been tough on the construction industry, particularly in Ireland. Having overseen John Sisk & Son Ltd.'s involvement in some of the most iconic construction projects in Ireland, the UK, and Europe, Bowcott must now ensure that the company has the labour, materials, and regulations in place to deliver on the company’s next set of major projects.  In this episode of The EY CEO Outlook Podcast, Steve Bowcott tells host Richard Curran about his journey to the top of the construction industry, the leadership skills he has developed working both in PLCs and private companies, and views on the future of residential and commercial property construction. They also talk about: Steve’s upbringing in a working class mining family in the Welsh valleys. The highlight’s of his 40-year career working at the most senior levels of the construction industry, and what he has learned from itHis views on the Irish culture and approach to business, and how that has shaped his leadership styleThe John Sisk & Son Ltd. company values of  Care, Integrity and Excellence and how they are applied in very practical ways to improve safety, mental health, and gender balance within the industryThe CEO he most admires, his business mantra, and how he would like to be remembered as a leader.  

With 6000 forest properties nationwide, totalling over one million acres of land, Coillte has been a very visible presence in Ireland since its formation in 1989. But in recent months Coillte-owned forests have become a lot more familiar to a lot more people, attracting over 2.2m visitors between March and December 2020. Coillte CEO, Imelda Hurley, is proud to be providing such a vital outlet for people during difficult Covid restrictions.  While Imelda Hurley’s love of the outdoors was one of the factors that attracted her to the position, it was the opportunity to play a central role in Ireland’s sustainability and climate action journey that she found most compelling. As the custodian of over 7% of the country’s land base, Hurley is clear about the role that Coillte must now play in enabling green energy on its estate, and is already putting projects into play to help Ireland meet its 2030 climate targets. In this episode of The EY CEO Outlook Podcast, Coillte CEO Imelda Hurley speaks to host Richard Curran about her vision for this ever-evolving commercial semi-state company. Having taken up the role just months before Covid-19 hit the country, Imelda’s tenure of Coillte has been an interesting journey to date, and one that is about to become even more so. They talk about:•Coillte’s footprint in Ireland and its three high potential businesses – Forestry, Land Solutions, and Medite Smartply.•The company’s role in generating wind energy and a major joint-venture with the ESB aiming to deliver one gigawatt of power by 2030.•Being a female leader in an industry perceived to be predominantly led by men.•Imelda’s time working in China and why she learned about the country and culture. •Her love of the outdoors and experience climbing some of the world’s highest peaks. 

Managing the finances of any organisation is challenging at the best of times, but when that organisation is the Health Service Executive, and the country is in the midst of a pandemic, the role of CFO takes on a whole new meaning.  Stephen Mulvany is acutely aware that the HSE and the services it provides touches the lives of every citizen in the country. As such, his position as CFO is particularly high-profile, requiring an impeccable approach to accountability and transparency, and an ability to deal with the pressures of public opinion. However, he believes that one “could not expect anything less in a democracy”.    In this episode of The EY CFO Outlook Podcast, HSE CFO Stephen Mulvany talks to host Vincent Wall about his role in securing, managing and accounting for the largest health budget in the history of the State. They discuss: The relationship between the HSE and the Department of Health – a strong partnership, forged over many years, with some ‘healthy tensions’ His pride about the major investment being made in community care and why this strategy is so important The HSE position as largest property holder in the State, maintaining over two thousand buildings across the country The modernisation and integration of the HSE’s financial system His admiration for Nelson Mandela.