Tony O'Reilly jnr leaves Waterford Wedgwood to be Providence CEO

Waterford Wedgwood has appointed a new chief executive to its Wedgwood operations.

Moira Gavin, who is currently president of Wedgwood USA, will replace Tony O'Reilly jnr, who is leaving the company to assume the chief executive's post at Providence Resources.

Ms Gavin (48) has been responsible for building the Wedgwood brand in the United States since 2002, a year after she rejoined the company from its main US rival, Lenox.

She has also been responsible for developing the company's collaboration with the designer Vera Wang.

She started her career as a buyer for US department store Macy's before joining Waterford Wedgwood in 1987. In June 1997, she left to join Lenox.

Ms Gavin will be charged with restoring the fortunes of Wedgwood which has struggled for growth in the face of excess capacity, changing customer tastes and negative foreign exchanges movements.

Ms Gavin said she was honoured to assume the chief executive's post at a company that Mr O'Reilly had left "with a legacy of reduced costs and a design-led culture".

"I believe that, following the acquisition of Royal Doulton, Wedgwood is well positioned for future growth," she said. "I look forward to continuing a culture of excellence."

Wedgwood is losing 950 posts under the current €90 million restructuring programme designed to allow the group return to profit at current reduced trading levels and adverse currency markets. Of those, around 450 have already left the company.

Mr O'Reilly (38) becomes chief executive of Providence Resources four years after relinquishing the equivalent post at exploration group, Arcon, in which the O'Reilly family also holds a significant stake.

Mr O'Reilly has been a Providence director since its demerger from Arcon in 1997 and is currently deputy chairman of the group.

The company recently listed on the London AIM market.