Page 9 - Ei Christmas Magazine 2025

Today, I’m announcing that I plan to
step down as CEO on 31st March 2025.
I have been in this position for an
incredible 42 years, since being
appointed Managing Director of the
GE-owned EI Company on 1st April
1983!
And while I’m giving up the position of
CEO of Ei Electronics, my ownership
of the Company remains, and I will
continue as Chairman and Director.
My involvement with the Company
will continue but I’m stepping away
from day-to-day responsibilities. In
sporting parlance, I’m stepping down
as Head Coach but remain as Director
of Football!
The GE owned Ei Company that I was
appointed to in 1983 had an uncertain
future as GE rationalized its businesses
under the leadership of Jack Welsh.
Its announced closure in 1986 was
not unexpected. However, I saw the
potential, not just in the products we
made but in the skills of the people
who made them. In 1988, that belief
led to the Management Buyout and
the establishment of Ei Electronics on
2nd March 1988. It was a bold step of
faith, charting our own course as an
independent Irish company. We knew
the road ahead would be challenging
but we also knew that we had the grit,
the vision and above all the people to
succeed. In the Electron of 22nd Jan
1988, [just before the MBO and 37
years ago, today!] I bravely stated
’As for the future, I am confident that
we can build a successful, indigenous
Company, trading on International
markets’. We’ve done that!
As I look back on these 42 years, I
am filled with immense pride. From
a standing start with little funding,
we have grown into a global brand
leader, with worldwide sales exceeding
€420m and an exceptional team of
1,250 individuals, of whom 1,000 are
here in Shannon. Together we have
made Ei Electronics, a company and a
brand synonymous with quality, service
and innovation. Our products have
safeguarded lives in millions of homes
across the world. And we have built a
company that is an exemplar of Irish
industry, achieving world scale while
manufacturing 100% in Ireland.
The journey has been defined by
change----adapting to markets,
embracing new technologies and
navigating through global challenges.
Yet, at its heart, what has remained
constant is our commitment to our
core values of Quality, Integrity and
Respect—a culture that we can all be
proud of. To every one of you who
has been part of this journey, past
and present: thank you! Thanks, in
particular to Jim Duignan who has been
with me right through—thanks Jim for
your dedication and your support.
As I step aside, I do so with complete
confidence in the future of Ei
Electronics. We’ve just come off a
record year and I leave this role knowing
that the Company is in excellent hands,
with a talented and committed team
poised to lead Ei Electronics into the
next era of growth and innovation.
Shortly, the Board will be naming my
successor as CEO.
While this is the end of my chapter
as CEO, it is far from the end of my
journey with Ei Electronics. My
ownership remains and I will continue
to Chair the Board of Directors.
I may be stepping down but not stepping
away----I’ll be around!
To all of you, I offer my deepest
gratitude for your unwavering
support over the years. It has been an
honour and privilege to be your CEO.
Mick
The Board of Ei Electronics,
Shannon, one of Ireland’s
largest indigenous companies,
is pleased to announce the
appointment of Leo Clancy as
its incoming Chief Executive
Officer, effective 1st April
2025.
Leo will succeed Mick
Guinee, who recently
announced that he is to step
down as CEO on 31st. March.
Leo Clancy joins Ei
Electronics with a
distinguished track record in
Leadership and Technology.
Most recently he was
an outstanding CEO of
Enterprise Ireland for 4
years. From that role, his
extensive experience in
fostering innovation and
driving international growth
of Irish companies will align
seamlessly with Ei Electronics’
strategic objectives. Prior
to that, he was Head of
Technology at the IDA.
An Electronics Engineer, Leo
spent the earlier part of his
career in the private sector,
working in global roles with
Ericsson and was General
Manager Service Delivery for
Ericsson Ireland.
He subsequently served as
Service Delivery Director
with e-net, a public-private
partnership, based in
Limerick, delivering
regional business broadband
infrastructure in Ireland.
Commenting on his new role,
Leo Clancy said:
’I am honoured to succeed
Mick Guinee as CEO of
Ei Electronics. Mick’s
legacy is extraordinary,
and Ei is an incredible
Irish success story. I am
looking forward to the
opportunity of working with
Mick, as Chairman, and
with the talented team at
Ei Electronics to drive the
company’s next phase of
growth and innovation’.
In his capacity as Chairman of
the Board of Directors, Mick
Guinee added: ‘On behalf
of the Board and the entire
organization we are delighted
to welcome Leo Clancy as our
new CEO.
Leo’s expertise, experience
and empathic leadership
style make him the ideal
choice to lead Ei Electronics
into its next chapter’.
21st.Jan.2025
The big news of the year was Mick Guinee stepping down as CEO after 42 years, to be succeeded by Leo Clancy.
The news was communicated by these two bulletins, and they are reprinted here for the record of this significant occasion.
Mick Guinee to step down as CEO
Changing of the Guard
4th Feb. 2025
Press Release
Leo Clancy named as CEO of Ei Electronics
Ei Electronics Echo Special Edition
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