Businessman Joe Burke is to step down as chairman of the Dublin Port Company, it was announced this evening.
A close friend of former Taoiseach Bertie Ahern, Mr Burke (59) was a member of the so-called "Drunmcondra Mafia".
Mr Burke, who leaves his post immediately, today met Minister for Transport Noel Dempsey to inform him of his resignation.
In a statement, the board thanked Mr Burke for his work over the past seven years.
"Since his appointment in 2002, Dublin Port Company continued to grow successfully and profitably.
"It is well placed to continue its role and responsibility as a key national asset of the Irish economy," the authority said.
The Government-appointed position of Mr Burke was questioned by Fine Gael in November after a High Court ruling restricted his role as a company director.
Mr Burke, whose second term as chairman was due to run until 2012, is appealing the decision to the Supreme Court.
The High Court restriction order, under section 150 of the Companies Act, restricts a person from involvement in the management of a company for five years unless that company meets certain capital funding conditions.
The order was sought in November by the liquidator of Mr Burke's building company, JH Burke Sons Ltd, which went into liquidation in 2006.
Mr Justice Kevin Feeney put a stay on the restriction order in the event of an appeal.
However, the judge noted in court that Mr Burke had acted honestly in the conduct of the company's affairs.
Fine Gael councillor Gerry Breen this evening welcomed Mr Burke's resignation, saying "with the High Court decision to restrict of Joe Burke as a Director under the Companies Act, his position was untenable and today closes that chapter."
"Perhaps the Port Company can now concentrate on the job at hand at getting goods in and out of the country most efficiently,rather than spend millions in an ill conceived and unnecessary proposal to infill part of Dublin Bay," he added.
PA