The chairman of the Competition Authority, Dr John Fingleton, has resigned the post to take up a new job as chief executive of its counterpart in Britain, the Office of Fair Trading.
Dr Fingleton will leave the authority in October, less than five months after his reappointment as chairman by Minister for Enterprise, Trade and Employment Mícheál Martin.
A high-profile and frequent advocate for competition and open-markets, his resignation comes as the authority prepares for a criminal cartel case against 24 home-heating oil vendors in the west.
The case, to be heard before the Circuit Criminal Court in November, will be the first such action to be heard before an Irish jury.
Dr Fingleton's annual salary of about €130,000 will almost triple to £250,000 (€362,627) as a result of the move to London.
He currently manages an office of 43 staff with an annual budget of €4 million. In the Office of Fair Trading, he will have a budget of £52 million and 730 staff.
While Dr Fingleton did not apply for the job when it was advertised in April, it is understood he was approached in recent weeks by headhunters acting for Britain's Department of Trade and Industry.
Early speculation suggests that the ComReg chairwoman, Isolde Goggin, a former Competition Authority member, might be in the running to replace Dr Fingleton.
The likely contenders also include the three other current members of the authority: director of advocacy Declan Purcell; director of monopolies Dr Paul Gorecki; and director of mergers, Edward Henneberry.
Dr Fingleton joined the authority in 2000 at a time when it was unable to take on new cartel cases due to a shortage of staff and other resources. However, the authority's powers were significantly increased by the 2002 Competition Act.
He said the highlight of his time in the job was the introduction of the new mergers regime, which he described as world class.
He also believed that competition issues were more prominent in public debate and cited moves to make it easier to switch bank accounts and the question of scrapping the Groceries Order being on the agenda as never before.
"Five years ago, vested interests got their way quietly and easily. Now they have to fight very hard and in public for their unjustifiable restrictions to be maintained," he said.
In a statement, Mr Martin said Dr Fingleton was an outstanding chairman. "Clearly we will miss the benefit of his advice on competition issues and there is no doubt that the Office of Fair Trading's gain is our loss," he said.
"The depth of his knowledge and the high regard in which he is held has earned the Irish Competition Authority deserved recognition around the world."
The British secretary for industry and trade, Alan Johnson, said: "I am confident his strong economic background and his experience as head of the Irish Competition Authority will be of great benefit to the Office of Fair Trading."
