In this episode of the EY CFO Outlook podcast, Thelma O’Driscoll, CFO of the IRFU joins host Jonathan Healy to talk about her diverse career path, her passion for growing male and female rugby from the grassroots up, and how the role of CFO enables her to create a strong and sustainable financial foundation for the game.

Thelma O’Driscoll’s journey into the rugby world was not a direct one. Starting out in the family business, Thelma went on to work in various finance functions across computer manufacturing (Dell), telecommunications, and professional services. This diverse financial background has proven to be a solid foundation for her current role as CFO of the IRFU.

And diversity has been a strong theme during Thelma’s time in the male-dominated world of professional rugby. Having been the only female around the leadership table when she first joined in 2016, the organisation has since made huge strides, with 40% of the IRFU Union Committee now comprising female colleagues. Thelma is also very passionate about growing women’s rugby and increasing investment in it.

They also discuss:

Financial Strategy - The IRFU is a not-for-profit organisation, meaning all revenue is reinvested into the game. Over half of the IRFU’s €90m income is distributed to provinces, clubs and grassroots rugby.

Challenges in Sports Finance - The IRFU's income varies in cycles, and careful management keeps national teams and grassroots rugby stable. Thelma explains why tough decisions are needed to invest wisely and control spending in order to maintain sustainability.

Growing Women’s Rugby - Women’s rugby is experiencing rapid growth and the IRFU are committed to grow the game further and increase investment. This strategic plan includes decentralising the current model and moving to four contracted provincial women’s teams. New sponsors like Goodfella’s Pizza are investing in women’s rugby, with more to come.

The Future of Irish Rugby - At the moment Ireland is at the pinnacle of world rugby, but sustaining its position requires careful financial planning. With a debt-free model, Thelma’s goal is to strengthen its finances with modern systems to support all levels of Irish rugby.

In this episode of the EY CEO Outlook podcast, Danny McCoy, CEO of Ibec, discusses with host Richard Curran his early influences, his approach to leadership, and his vision for Ireland’s economy.

Danny McCoy’s career showcases a journey driven by a passion for economics and a deep understanding of Ireland’s evolving socio-economic landscape. Growing up in Tuam, County Galway, during challenging economic times, he witnessed firsthand the effects of industrial decline and small business struggles, which shaped his interest in economics.

After a successful academic and analytical career at institutions like the Central Bank, ESRI, and Oxford, Danny transitioned to a leadership role at Ibec, where he has championed Irish business and employers through times of economic uncertainty and growth.

They also discuss:

Background and Career Path: Danny grew up in Tuam and was influenced by the economic challenges of the 1970s and 80s. He was inspired by the role of economists and his love of business subjects, led him to study in Galway and future roles in the Central Bank, ESRI, and academia.

Joining Ibec: Danny joined Ibec in 2005 and became CEO in 2009 during Ireland’s economic recession. He worked hard to integrate the “business” aspect as a strong counterpart to the “employer” identity within Ibec.

Leadership Challenges and Achievements: Danny was instrumental in turning around Ibec’s finances, addressing a pension deficit which transformed Ibec into a sustainable organisation. Today, Ibec has a €50 million turnover organisation with 330 staff, 10 locations, and 39 brands. He was a strong advocate for optimism during Ireland’s economic recovery in the late 2000s.

Economic Views: He highlights the need to focus on real issues and long-term solutions, such as energy, infrastructure, and social policies. He controversially challenges the idea of a “cost of living crisis,” suggesting support should go to those who truly need it.

Leadership Philosophy: Danny believes good leadership means making bold decisions, focusing on long-term goals, and prioritising lasting impact over short-term approval and follows the motto: "No good turn goes unpunished."

Future Outlook: Danny emphasises challenges like housing, sustainable energy, and global economic shifts. And urges Ireland to use its resources wisely and plan responsibly for the future.

Aisling Kenny, CFO of SMBC Aviation Capital, has built a notable career in the aviation leasing sector. She started her career at EY, where she was involved in auditing various clients, including banks and leasing companies. She joined SMBC Aviation Capital (then RBS Aviation Capital) in 2012, initially as manager and head of finance. In 2022, she became the CFO.

Ireland has established itself as a global centre for aircraft leasing with over 60% of the world’s leased aircraft managed from Ireland. Aisling discusses how Ireland became a hub for aircraft leasing and the growth of SMBC Aviation Capital, which now owns and manages over 1,000 aircraft, “every minute of the day, one aircraft takes off or lands around the world in our portfolio”.

In this episode of the EY CFO Outlook podcast, Aisling Kenny, CFO of SMBC Aviation Capital joins host Jonathan Healy to talk about her career journey, the challenges and opportunities in the aviation leasing industry, and the sector’s focus on sustainability and innovation.

They also discuss:

• Challenges in Aviation Leasing: Despite disruptions like COVID-19 and the war in Russia, SMBC Aviation Capital has grown by focusing on high-demand aircraft and diversifying its portfolio.

• Sustainability in Aviation: Aisling highlights the need for fuel-efficient aircraft and Sustainable Aviation Fuel (SAF) to cut emissions, though capital investment may be required.

• Cultural Collaboration: Aisling speaks about the shared values of Ireland and Japan, with both being outward-looking and respectful of tradition, while striving for future growth.

• The Future of Aviation Leasing: Leased aircraft now make up 60%. Aisling predicts industry consolidation, with larger lessors leading. Graduate programs and apprenticeships are key to sustaining growth.