Author Archives: TBR Team

Coffee Chat with James McDonagh, Market Executive at Enterprise Ireland

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Anna Lelashvili

As part of our new Graduate Coffee Chats series in collaboration with Foresight Business Group, TBR’s Chief Financial Officer and Foresight President Anna Lelashvili spoke to James McDonagh, Market Executive at Enterprise Ireland to get insight into life as a graduate at Enterprise Ireland. 

The Market Executive Role – What is it?

Enterprise Ireland is the export development agency for the Irish government, working with Irish companies for over 20 years to help them on their export journeys. As a Market Executive at Enterprise Ireland, James’ role involves helping Irish companies develop their exports in global markets, offering support across 4 categories: information, introductions, events and PR. Based in Enterprise Ireland’s Copenhagen office, he acts as ‘boots on the ground’ with Irish companies across the Nordics, helping them with business development, marketing, localisation and cultural differences in the region. James described the role as one that is ‘hard to define’ due to its general nature, saying ‘the broad role in an organisation that touches all aspects of Irish business is what attracted me.’ 

James gave us an insight into his first big project as a graduate, working on Slush. Slush is the largest startup investor conference in Europe, held in Helsinki, Finland, bringing together 15,000 attendees from all over the world each year. James’ work on the project involved  bringing a delegation of 11 Irish companies to Slush, hosting an event with the embassy in Finland and completing business development activities at the conference itself.

‘It was a really good experience to be involved in managing a project of this scale from the start, while taking responsibility for maximising our clients and Ireland’s presence at probably the most exciting Tech event in Europe. It was a very rewarding project.’

The Graduate Programme

The graduate programme at Enterprise Ireland is 2 years long and is a great opportunity for a graduate to start their career in business. The agency offers 2 programmes, a national programme and an international programme, which sees placement at one of nearly 40 offices worldwide, including France, Germany, the UAE and Canada. The national graduate programme sees graduates working in the Dublin headquarters, focusing on investment and job creation in Ireland. Unlike other graduate programmes that take well over 200 graduates a year, the Enterprise Ireland international programme only takes a handful of students, with there being only 12 graduates during James’ intake. With hundreds of applicants, this makes it a very competitive role. 

The Interview Process

While the interview process at Enterprise Ireland is longer than most with 6 stages, James put us at ease saying he ‘felt completely comfortable with it and never found it too much or intense’. The stages are: 

  1. Written application & CV submission
  2. Video interview (if you speak a language other than English, which is required for some offices, you’ll also complete a video interview in that language)
  3. Verbal & numerical reasoning tests
  4. Assessment centre in January, including a business case you work through as a team and presentations
  5. Psychometric test 
  6. Final interview – 30 minutes presentation, 30 minutes interview questions

The process takes a couple of months to complete with James applying to the role in October 2022 and getting the job offer in February 2023. 

Work Culture 

Due to the international nature of the programme, the work culture at each office will differ. At an organisational level, James has felt a very positive work culture at Enterprise Ireland where everyone’s opinion is valued, whether you are just joining the organisation or have been there for 10 years. At the Copenhagen office, James enjoys the Nordic way of life, having a really good work-life balance, with a non-hierarchical, consensus-based, flat-work culture where he works on a hybrid working model, with a minimum of 2 days a week in the office. 

Relocation

James found out he was placed in the Copenhagen office in April 2022, with ‘not a word of Danish, knowing nothing about Copenhagen other than the fact it was a beautiful, expensive city’. While this may seem overwhelming, James was offered a lot of support from his team, who had also made the same move from Dublin, and were also provided with an amazing handover package from the previous graduate at the Copenhagen office accompanied with recommendations. To make the move as stress-free as possible, Enterprise Ireland placed him in a hotel room for the first few weeks, allowing him time to find accommodation. Although finding accommodation was difficult, James said it’s ‘not quite so bad as renting in Dublin.’ James ended the interview on a very positive note, saying that while he had his eyes set on moving to France, he is ‘really happy with his move (to Copenhagen)’ and is really glad he ‘threw himself into it.’

Advice to Students 

Here is some advice from James to ensure success in your application! 

  1. Communication skills: For the role, you must be interested in working with other people and need to have good communication skills. You work with a variety of people from clients to potential buyers to the Enterprise Ireland teams worldwide. Working with people from different cultures and backgrounds also requires adaptability. 
  2. International experience: Whether you’ve studied abroad, completed an internship abroad, or lived somewhere new for a few months, the experience of living away from home will be of great benefit when applying to the international programme. Experience in an international company and having language skills is also great! 
  3. Passion for Irish business: The role involves promoting Irish business’ interests abroad; having an awareness of the Irish business ecosystem and having a passion for it is important. 

If you don’t have one of these, don’t worry, having the willingness to learn and adapt is just as important! 

The Crypto Ecosystem: How Blockchain, DeFi, and Emerging Tech Are Reshaping Finance

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Rachel Ranjith

In a rapidly evolving digital world, the advent of cryptocurrencies, blockchain technology and decentralised finance is reshaping the global financial landscape. These technologies aim to decentralise power, with the intent of promising financial inclusion and accessibility, challenging traditional banking norms. Yet, they also raise pressing questions about security, scalability and sustainability, especially as emerging technologies become potential disruptors. 

To demystify the concepts surrounding crypto and make it more approachable, Dr. Martha O’Hagan Luff of the Business School and Dr. Hitesh Tewari of the School of Computer Science and Statistics were interviewed to learn more about the future of cryptocurrency. 

The Building Blocks: Crypto, Blockchain, and DeFi

Cryptocurrencies like Bitcoin and Ethereum represent a shift from centralised money controlled by governments and banks to decentralised digital assets. Built on blockchain technology, they allow for peer-to-peer transactions without the need for traditional financial intermediaries, offering greater transparency and user control.

Blockchain is the backbone of cryptocurrencies: a decentralised, distributed ledger that securely records transactions. Its immutability and transparency have made it a cornerstone of digital finance. Beyond powering cryptocurrencies, it also enables the smart contracts – self-executing code for certain banking procedures – that DeFi platforms rely on.

Decentralised Finance (DeFi) leverages blockchain to recreate traditional financial services – such as lending, borrowing and trading – without intermediaries. By using blockchain and smart contracts, these services are automated, making them faster, more transparent and accessible. Together, these components form a symbiotic network; cryptocurrencies operate as the medium of exchange, blockchain serves as the infrastructure and DeFi platforms utilise both to deliver financial services in a decentralised, trustless environment. 

A New Era of Financial Services

Traditional banking systems are built on centralised control by governments and financial institutions. This structure provides stability, insurance and regulation, but it also has its downsides. High fees, slow processes and limited access for millions of unbanked people worldwide are a few notable flaws. DeFi addresses these very issues by offering accessibility to anyone with an internet connection, it offers transparency, lower costs and user control. Since it’s automated via smart contracts, and operates without the need for trust in centralised institutions, it has evoked a lot of interest in the public. However, the lack of regulation and protections in DeFi means higher risks, such as losing funds to hacks or bugs in the system, as well as the volatility of crypto assets.

As traditional financial institutions explore blockchain technology- like JPMorgan’s use of blockchain for settlements- it’s unclear whether DeFi will coexist within traditional banking or replace it entirely. The likely outcome may be a hybrid system, combining the best of both worlds. There is a certain convenience to the efficiency of Smart Contracts that is inarguably positive. However, the reassurance and reliability of traditional banking cannot be easily replaced. 

Another possibility is the rise of CBDCs – Central Bank Digital Currencies. This was proposed as a potential solution to the crypto ecosystem. The proponents for this technology argue that the convenience of crypto is preserved while also solving the issue of unregulated currencies. However, a deeper look into this idea provides a number of disturbing concerns. If CBDCs become legalised tender, many transactions become more traceable due to regulatory requirements. The extent of this traceability can vary based on the design choices made by central banks, however, this contrasts with the ideology of cryptocurrencies. Pro-CBDC proponents often argue, “why worry if you have nothing to hide?” But, in an era of increasing concern for digital privacy, it might be safe to say CBDCs may not become popular.

Quantum Computing: Threat or Opportunity?

Quantum computing is a revolutionary leap in computing that solves problems far beyond traditional computational powers that, unfortunately, threaten the crypto environment. It has the potential to revolutionise many industries, but due to its capability of solving complex problems exponentially faster, it also poses a serious threat to blockchain technology. Since blockchain security relies on cryptography and cryptographic algorithms, quantum computers can eventually break past these walls. For example, private keys used to authorise crypto transactions could be decrypted, exposinging assets to theft. This is understandably a serious compromise of the integrity of blockchain networks.

Researchers are already developing quantum-resistant cryptography to safeguard these systems. Post-quantum encryption and hybrid cryptographic models are widely being discussed in the current tech climate, with a widespread understanding of a need for preemptive measures. While the threat is real, quantum computing also presents opportunities. From optimising scalability, efficiency and speed to the implications of a transparent ledger for business transactions, the blockchain ecosystem definitely has significant future applications.

There are parallels to be drawn between the current rise in popularity of crypto and the 90s Dot-Com Bubble. The internet’s commercial potential sparked an unprecedented wave of investment in tech companies in the late 1990s and the promise of connectivity and innovation drove massive valuations. However, when the market realised that many dot-com companies lacked profitability or sustainable models, stock prices plummeted, wiping out trillions of dollars in value. Similarly, quantum breakthroughs could trigger a re-evaluation of crypto projects, exposing vulnerabilities and weeding out weaker systems.

What is Self-Sovereign Identity (SSI)?

Self-Sovereign Identity (SSI) enables individuals to control their own digital identity, a key element while discussing DeFi platforms. Instead of relying on centralised services like banks or governments, users manage their own identity data. Blockchain’s decentralised nature makes it an ideal platform for implementing SSI, allowing users to securely store their identity data without ceding control to intermediaries. 

SSI has the potential to transform traditional Know Your Customer (KYC) processes in the crypto ecosystem by allowing users to control and share only essential data without relying on centralized institutions. While KYC regulations are currently enforced in many crypto transactions, SSI could reduce the burden of sharing sensitive information by enabling pre-verified credentials. Users could prove their creditworthiness or reputation without exposing sensitive personal information while also reducing the hassle of procuring documents from multiple institutions for any formal procedure.

However, challenges remain, including the complexity of implementing SSI on a large scale and ensuring interoperability between different systems. Additionally, the inherent lack of trustworthiness that comes with self-identification is certainly a significant obstruction to its practical application. Overcoming these hurdles will be crucial for its widespread implementation.

The Future of Crypto

Cryptocurrencies, blockchain and DeFi represent an exciting frontier in global finance and technology, offering unprecedented opportunities for innovation, accessibility and autonomy. However, their sustainability depends on addressing inherent challenges and should be approached with caution considering past trends wherein massive bubbles in the financial market often burst when oversaturated with interest. 

Meanwhile, as traditional institutions adapt to this new paradigm, the question remains: will DeFi become the dominant financial system, or will it integrate with existing frameworks to create a hybrid future? Emerging technologies could either disrupt or enhance this ecosystem and whether this decentralised world will coexist with traditional banking or replace it entirely remains to be seen. What’s clear is that the way we think about money and finance is evolving, and the journey has only just begun.

Selling the Stache: A Look into the Minds Behind Movember

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Sean Smith

If you’ve been pondering why some of your fellow coursemates’ five o’clock shadows have persisted past the hours of dawn, fear not; Movember is in full swing. As we close out the month of November, you may have noticed many different initiatives around the college community to raise funds for men’s health. Between sea swims at the forty-foot, a moustache before-and-after post of that one society with little indication of said ‘after’ or watching the infamous DUBES fight night, Trinity has its fair share of contributions for the nonprofit. But who is behind the charity we have grown to know and love so well, and what is it like working for an organisation like Movember? Editor-in-Chief Sean Smith spoke with Marketing & Communications Director Aisling Quigley and Irish Country Director Sarah Ouellette to learn more about their roles at Movember Ireland and what goes on behind the mo’.

Background & Mission

Going on its 21st year of operation, Movember is a nonprofit dedicated to bolster men’s health, with mental health and suicide prevention as well as prostate and testicular cancer being of particular focus. What started as a conversation between two friends about the drift of the moustache in men’s fashion over drinks in Melbourne, Australia has now become a global movement, challenging men to grow a moustache to raise funds for these charitable tenants. 30 humble moustaches soon turned to 5 million, with the nonprofit raising $137.2 million AUD in its recent fiscal year. 

Beyond the stache, the heart of Movember’s brand lies in its locality. Commencing operations in Ireland in 2008, fundraising activities possess  a distinctly Irish flair, reaching men at meaningful touchpoints. ‘We have a dedicated community of supporters who have been with us since the day we launched in Ireland, that has been the backbone of our growth.’ says Sarah. ‘Our partnership with the GAA and GPA as well as the work we do with UCD are all impacting Irish men.  What brings it all together is the Movember ethos, brand and straight talking approach which has really resonated in Ireland.’ The team’s core value of ‘Having Fun while Doing Good’ is instilled in Movember’s culture, with a diverse group of individuals committed to putting men’s health in the limelight.

Marketing the Mo’

As with most nonprofits and social enterprises, marketing and branding efforts transcend beyond commercial interests, instead blending purpose with action. Instead of focusing on hitting sales targets, Movember’s product lies in its mission and commitment to men’s health. “This means that we have to be extra thoughtful and sensitive in how we communicate,” Aisling explains. “We’re not just asking people to buy something, we’re inviting them to join a cause and support something deeply meaningful. We’re dealing with potentially life-changing issues like mental health and cancer, so we have to be really mindful about how we engage people, making sure our messaging is always respectful and inclusive.”

Without the resources and budget one would find in a traditional corporate marketing department, Movember leverages its creativity and resourcefulness to shape its branding. With a recent campaign seeing a Movember phone booth on Grafton Street where passerby could share a story about how they are feeling to a public service announcement titled ‘Be a man of more words’, the group succeeds at striking a balance between playfulness and impact. Aisling voiced that “Hearing stories from men who got a physical check-up or opened up about their mental health because of Movember—it’s incredibly moving. Knowing that our campaigns can encourage those life-saving actions makes the hard work worthwhile. A current initiative the group is exploring is esports and gaming; through tournaments and in-game promotion, Movember is promoting men’s health in non-traditional areas of growth.

Day-to-Day: Campaigns & Community

With a lighthearted and meaningful culture, what does a normal day look like for members of the Movember Ireland team? For Aisling and Sarah, focus is drawn on long-term strategy. As Country Director, Sarah explains that her day varies between supporting local work involving media interviews and planning future strategy with their global colleagues in London and Melbourne. “No two days are the same, but most involve working with our fundraising, marketing and programmes teams on the ground here in some capacity,” she exclaims. “There are a lot of late night calls with our global teams due to time zones but I don’t mind!”

For Aisling on the marketing team, sustaining stakeholder engagement while analysing broader market trends are pivotal for her daily work. To remain competitive as a nonprofit, Movember aims to push boundaries with their campaigns, partnering with exciting brands and creating consumer experiences unique to Movember. “Day-to-day, my role is a mix of planning, creating, and responding,” she says. “On any given day, I might be drafting campaign materials, coordinating with our media partners, brainstorming with ambassadors, or handling last-minute details for an event. There’s also a lot of collaboration — whether it’s internally with our team or externally with partners, we’re always working together to keep things moving.” Another area for development has come in the form of advocacy, championing men’s health to the Irish Government in Ireland European Union aligned goals in cancer and mental health.

Advice for Students

For those interested in a career in the nonprofit or social entrepreneurship sphere, the pair shared some insight into breaking into the field. “You need to be truly passionate about the cause you’re supporting,” Aisling remarked. “Non-profit work can be incredibly rewarding, but it also comes with unique challenges, and having a strong connection to your mission will help you stay motivated. Be prepared to wear many hats, be adaptable and stay open to creative solutions. Above all, remember that every little bit of impact counts—it’s all about making a difference, no matter how big or small.”

Joining the nonprofit space does not need to be linear, either. For Sarah, her entrance to her role at Movember came from a tech and media background, which she found beneficial in skill development for her current role. She advised that “having a broad base of skills that include project management, financial acumen and data-led decision making are increasingly what we’re in need of in the sector.”

So whether you are itching for the warm grasp of your razor come the 1st of December or enjoying the Students’ Union guerilla techniques of digital fundraising, it is wonderful to see the Trinity community rally around such a poignant cause. If you want to learn more about Movember and donate to an amazing cause, you can avail of more information here.

The BCG Maturity Matrix 2024: A New Model for Global AI Adoption

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Ayesha Ahmed 

In classic style, Boston Consulting Group released a new matrix about the readiness levels of world economies towards artificial intelligence. The report was titled The AI Maturity Matrix, and it provides a comprehensive analysis of 73 global economies to evaluate their readiness and exposure to artificial intelligence (AI) disruption. The report outlines the economic advantages for pioneers, proposing that emerging and other lagging nations act swiftly to remain competitive. 

AI Archetypes

The findings divided the world economies into 3 broad categories: 

  1. AI Emergents: includes economies which are in the early stages of AI adoption and need strategy to build competitiveness. This includes countries from the Middle East and South America.
  2. AI Practitioners & Contenders: are split into gradual and exposed subgroups. Gradual practitioners include economies from East Asia, Eastern Europe, Central America, and parts of South America and the Middle East. Steady countries were mainly developed economies like Hong Kong, Switzerland, and Australia. Rising contenders include developing countries like India, Brazil, and Poland, these show promising growth in AI advancement.
  3. AI Pioneers: the top of the AI chain, only 5 countries (out of 73) achieved this ‘AI Pioneers’ status. These countries generally excel in the integration of AI, and leverage strong R&D ecosystems, advanced infrastructure and host skilled talent pools. Countries like the U.S positioned themselves to influence global AI standards and ethics. 

The report notes that over 70% of the assessed nations score below the halfway mark in areas such as skills, research and ecosystem development, pointing to a substantial gap in AI preparedness. Additionally, the global AI expenditure is expected to double, reaching $632 billion by 2028, and this reflects technology’s central role in future economic strategies. 

Nations like Luxembourg and Singapore lead due to their reliance on financial and business services, which are susceptible and adaptable to AI-driven transformations. Meanwhile, developing economies like India could potentially benefit from AI applications in ‘agritech’ and industrial optimisation. 

Determinants of Maturity

The AI Maturity index is measured by two indices. The AI exposure index which reflects how susceptible an economy’s sectors are to AI disruption – positive (efficiency gains), or negative (job displacement). It provides an aggregate of sector-level data based on GDP contribution and draws on sources from BCG Global Innovation Survey, Quid data analysis, Linkedin job postings, and generative AI insights. The scores were normalised on a 0-100 scale and weighted to provide a comprehensive snapshot of the sectoral exposure. 

The report also introduces the ASPIRE framework, a mnemonic that evaluates economies across six dimensions and encompasses 33 indicators. The calculation process of this was through normalisation (using a standardised scale of 1-100, and adjusting for skewed data) and the final readiness score was a weighted sum of all dimensions. While the US leads in investment, Mainland China excels in R&D, and Singapore sets benchmarks in policy and ethical governance. The contents of the framework are as follows:

A – Ambition: presence of national AI strategies and specialised agencies                                 

S – Skills: Availability and quality of AI talent 

P – Policy & Regulation: Governance effectiveness and data management

I – Investment: Funding in AI-focused startups and infrastructure 

R – Research & Innovation: Patents, academic output, and startup ecosystems

E – Ecosystem: Technological infrastructure and digital accessibility. 

Global Implications 

The AI Maturity Index concludes with recommendations for each archetype:

  1. Pioneers are urged to drive global standards and invest heavily in R&D to continue to scale AI.
  2. Contenders are advised to expand AI applications to achieve parity with pioneers. 
  3. Practitioners should strive to balance exposure and readiness, focusing on niche applications.
  4. Emergents must concentrate to build foundational infrastructure and strategies to enter the global AI race. 

The BCG AI Maturity Matrix 2024 is useful for its strategic guidance and as a diagnostic tool for national leaders in the Artificial Intelligence sphere. Global AI spending is expected to soar, adoption is accelerating across sectors and economies that invest in readiness and innovation are likely to dominate the world of AI tomorrow. With this typology for economies, emphasis on particular areas or niches to invest in can help to grow AI as a powerful yet responsible tool for the future business world. 

The Leaders of Companies Listed on the Irish Stock Exchange: How they Made it to the Top. 

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Jessica Weld

The Irish Stock Exchange (ISE) has a deeply enriched history dating back to the late 1700s. City Hall on Dame Street used to be known as the Royal Exchange, a place where local merchants traded their goods. The ISE was acquired by the European stock exchange consortium Euronext in 2018, earning the formal name of Euronext Dublin. Nowadays, Euronext Dublin is the competent authority for all thirty public company listings in Ireland. This includes some of the largest companies in the country, such as Kerry Group, Kingspan, Ryanair, AIB, Bank of Ireland and PTSB .  

Becoming the Chief Executive of a company listed on the Euronext is a momentous achievement, but how does one achieve such a feat? I’ve analysed the educational achievements and career progression via self-published data of the CEOs of all 30 companies listed on Euronext Dublin to see what paths got them to where they are now.

Level of Education

When conducting this research, I aimed to examine the proportion of top executives holding master’s degrees and how this may change over time. As educational standards increase for business-related jobs, will master’s degrees become the new bachelor’s degrees? The divide between bachelor’s and master’s degrees is a near-even split: 46.66% of CEOs of Euronext listed companies hold a National Framework of Qualifications (NFQ) Level 9 (or equivalent) Postgraduate Degree or above.

Stephen Garvey, CEO of Glenveagh Properties, boasts a real ‘started from the bottom’ story. With no formal education, and beginning his career as an apprentice plasterer on construction sites, he climbed the ladder to one of Ireland’s largest property development companies. My father who worked as a carpenter at the same time fondly recalls roofing houses while Garvey would be plastering them. Garvey then reached the top position at one of Ireland’s largest property development companies without taking the traditional college route.

Dr Colin Hunt, CEO of Allied Irish Banks (AIB), has attained the highest level of education of Chief Executives on the ISE, receiving a PhD in Economics from Trinity College Dublin in 2007, making him the only CEO on the ISE to hold a doctoral degree. In addition, he holds a Bachelor of Commerce and a Master of Economics from University College Cork. 

While the divide between bachelor’s and master’s degrees is minimal, professional qualifications often bridge the gap. For example, 53.33% of ISE-listed-CEOs hold one or more professional designations, all of which are accountants. For instance, Sean Coyle of Origin Enterprises is a Qualified Financial Advisor, and Fiona Dunlevy of Malin Corporation and Jonathan Rockett of Datalex are Chartered Tax Advisors, highlighting backgrounds in finance and accounting. 

Blessed Amongst Accountants

In simpler times when I was studying for my Leaving Certificate exams, I remember my business teacher saying that many of the top decision makers in companies of all industries across the world have one thing in common – they are accountants. Their financial understanding and expertise can prove advantageous in climbing the management ladder and taking the reins of some of the world’s largest companies.

With over half of company CEOs listed on Euronext Dublin coming from an accounting background, many started their careers in Big 4 accounting firms: Deloitte, EY, PwC and KPMG. For example, Dermot Crowley, CEO of Dalata Hotel Group, started his career as a Trainee Accountant in PwC in 1989, and Trinity Alumnus and Ryanair CEO Michael O’Leary began his career at KPMG in 1982. 

It’s in the Family

Gene M. Murtagh was the youngest CEO of a company listed on the ISE at age 34 when he took over his family business, Kingspan, in 2005. He has held this post ever since, seeing the company grow to become one of Ireland’s most valuable companies listed on the ISE.

Female Representation 

While women continue to make ground in representation across all sectors in business, they are still underrepresented as Chief Executives. For example, out of the 30 companies listed on the ISE, only two CEOs are women – Fiona Dunlevy of Malin Corporation Plc. and Rita-Rose Gagné of Hammerson Plc. 

However, Ireland has led the way in increasing representation of women in executive roles. Balance for Better Business, Ireland’s independent gender balance review group, notes progress for female representation in their 2023 report. Ireland has flown from ranking 15th in the EU for female executives in 2019, to 6th in 2023, exceeding the EU average by 22.1%. 

Being a CEO of an ISE listed company has rocket launched the careers of women in the past. Beginning as Bank of Ireland’s CEO, Francesca McDonagh became Group COO of both Credit Suisse in 2022 and Universal Investment in early 2024. 

While being publicly listed is by no means the only benchmark of success, it is a good indicator to use to deep dive into the path that each CEO took to get to where they are today. With increasing representation of women in executive roles and a changing landscape for educational standards, it will be interesting to see what changes will happen in the C-Suites of Ireland’s largest companies. 

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