Sean and his wife, Patricia, quit to avoid conflict on interest

Sean Quinn and his wife Patricia have quit the board of Quinn group to concentrate on Quinn family interests and “the interaction of these interests with Anglo Irish Bank”.

He said he wanted to avoid any potential conflict of interest associated with the proposed sale of Quinn Insurance.

Sean Quinn said: "After 37 years of sustained development Quinn Group has a mature, professional and skilled executive as well as a very experienced and independent board.

Family interests

“The group is extremely well invested and is strongly positioned to meet all of the challenges ahead. The group management and staff in all areas are second to none as has been demonstrated in recent times.

“For now I want to concentrate on Quinn family interests outside of the group and bring all outstanding matters to a satisfactory conclusion in that regard".