Frank Kenny is to step down from the board of Hibernia Reit at the company’s annual general meeting next month.
Mr Kenny, a non executive director with the group, has more than 35 years’ experience in the Irish and United States property markets in the areas of commercial and residential property investment and development for both private investors and institutions.
The chartered surveyor is the founder and chief executive of Willett Companies in New York, a mid-sized property investment company, which he founded in the early 1990s, specialising in multi-tenanted office and retail properties on the East Coast of the United States.
Meanwhile, last month Hibernia, which is one of the country's biggest commercial property developers, has said building costs will not rise dramatically as a result of Covid-19.
Kevin Nowlan, the chief executive of stock market- listed landlord and developer Hibernia Reit, said that it was not budgeting any additional costs for the major project it has under way - a massive office redevelopment at Cumberland Place in Dublin.