Clancy is stepping down to pursue new opportunities in the private sector, the agency’s chairman says.

Leo Clancy, the CEO of Enterprise Ireland will be stepping down next March. In the announcement made today (12 December), the agency’s chairman Michael Carey said that Clancy will be leaving to pursue a new career opportunity in the private sector.

Carey said: “Leo Clancy has notified me of his intention to step down as CEO of Enterprise Ireland in March 2025. Leo is leaving to pursue a new career opportunity in the private sector.

“This news comes at a time when the agency is in a very strong position, having achieved record results in terms of client jobs and exports, spend in the Irish economy and support for start-ups.”

The Government agency responsible for supporting the development and growth of Irish business internationally has announced that it will commence a recruitment process to hire Clancy’s successor immediately.

However, in the meanwhile, Enterprise Ireland’s executive director and a member of its senior leadership team Kevin Sherry will be appointed as the interim CEO from March until a successor is found.

Clancy joined as Enterprise Ireland’s CEO in 2021, following the departure of Julie Sinnamon, whose tenure at the agency spanned nearly eight years.

Previous to his role as the agency’s CEO, Clancy led IDA Ireland as a member of its executive management team as well as the divisional manager with responsibility for IDA’s global marketing communications, digital and corporate services.

He joined IDA in 2013, coming from a role as service delivery director at telecoms company Enet.

One of Clancy’s earliest projects at the Enterprise Ireland included overseeing the implementation of a new strategy for indigenous Irish business for the decade ahead.

In 2021, Horizon Europe – the EU’s research and innovation funding programme – launched in Ireland. With assistance from Enterprise Ireland, Irish businesses and research organisations were able to receive nearly €840m in funding from the programme in the three years since it launched in the country – reaching than 55pc of its funding target of €1.5bn under the programme until 2027.

Meanwhile in 2023, Enterprise Ireland celebrated its 25-year anniversary. Lauding the many successes of Irish businesses since the agency’s inception, Clancy stated that Enterprise Ireland invests heavily in Irish research and innovation as well as the wider research ecosystem.

Don’t miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic’s digest of need-to-know sci-tech news.