Deirdre Veldon Steps Down as Irish Times Group Managing Director

Deirdre Veldon has announced her resignation as managing director of the Irish Times Group, marking the end of a three-year tenure in which she guided the organization through significant challenges. Veldon, who began her career in journalism with the Irish Times in 1996, took on the role of group managing director in November 2020. In a memo to staff, she expressed her intention to pursue other professional interests, while also indicating her commitment to continue supporting the group on policy and industry matters in a different capacity.

The announcement of her departure has reportedly surprised staff within the organization. Veldon’s leadership contributed to a notable reduction in losses for the Irish Times Designated Activity Company, with the most recently filed accounts showing a loss of €642,656 for 2023, down from a loss of over €2 million in 2022. The company recorded a profit on ordinary activities before taxation of €2.118 million, a significant recovery following a loss of just over €5 million the previous year.

In the interim, Michael Sheehan, the group’s chief finance officer, will assume the role of acting managing director while the search for a permanent replacement is underway. The Irish Times Group encompasses additional media outlets, including the Irish Examiner, the property website MyHome.ie, various regional newspapers, and a stake in WLR FM, a local radio station.

Veldon’s contributions to the media landscape extend beyond her role at the Irish Times. Earlier this year, she was appointed president of News Media Europe, the representative body for the European news media industry. Additionally, Veldon serves as vice-chair of Newsbrands, an Irish representative group for the sector, demonstrating her influence within media circles.

The changes in leadership at the Irish Times Group come at a time of transformation within the media industry, where traditional outlets are navigating the complexities of digital transition and evolving consumer habits. As Veldon steps down, her legacy will likely include the financial stabilization of the group, alongside her ongoing commitment to media advocacy on a European level.