John Moloney, the former chief executive of Glanbia, will take over as chairman of the energy-to-electronics conglomerate DCC in September.

Mr Moloney, who is also chairman of the State forestry company Coillte, and also sits on the boards of packaging giant Smurfit Kappa and the London-listed food company Greencore.

He will replace former AIB chief executive Michael Buckley, who will retire in September after more than six years as chairman of the group, which eschewed its Dublin stock market listing last year in in favour of London.

Mr Buckley, who is aged 68, is also a former managing director of NCB stockbrokers and was also a director of Enterprise Ireland.