Enterprise Ireland, the Irish state-owned enterprise support agency, has lost one of its most senior executives as Walter Hobbs decided to leave and return to the private sector, the Irish Times reported yesterday.

Hobbs was appointed as executive director for investment and finance in May 2016 to develop and head Enterprise Ireland’s investment and finance strategy as well as activities.

His previous positions include general partner at ACT Venture Capital, which he held for 15 years, an founder of his own investment and financial advisory firm Virgo Financial.

He will now return to advising growth-stage companies and seek board positions.

Hobbs said: “I wanted to move faster towards my vision of change and modernisation than some other people. “I was on a mission. If I could not implement it as fast as I wanted, I decided it was best to move on.”

“There was no row [at Enterprise Ireland] or anything like that. But I am fortunate to have choices, and leaving was the choice I made. It has only just happened, so perhaps I will give my reflections to [Enterprise Ireland] board members in coming weeks.

“I have made people aware of what needs to be done. The industry is now very complex, and companies need to be constantly innovating.”

– Photograph courtesy of LinkedIn