IDA Ireland chief Martin Shanahan has tendered his resignation to the agency and will serve a period of gardening leave commencing on October 26th.
The CEO had given notice of his intention to step down from the role after eight years in July of this year, with his departure expected in early 2023.
In a statement, the IDA said "The Board of IDA Ireland has appointed Mary Buckley as interim CEO effective from 26th October 2022.
"An international competition to fill the role of CEO of IDA Ireland will commence immediately."
Frank Ryan, chairman of the board at IDA thanked Mr Shanahan for his service, saying "Martin has steered IDA through some of the most difficult challenges that it has faced in its history, from driving economic recovery to international tax changes, the withdrawal of the United Kingdom from the European Union, a global pandemic and more recent global geopolitical and economic challenges.
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"The Board of IDA, colleagues and I wish him every success in the future."
Current Executive Director at IDA, Mary Buckley has been with the agency since 2015 and is a member of the Executive Leadership team.
She "brings with her extensive organisational experience, having previously held a number of leadership positions Overseas, at HQ Dublin, and Regional locations for IDA Ireland."
Shanahan's annual remuneration was €193,500.
IDA Ireland received €200m in taxpayer funding in 2021, plus €3m from the National Training Fund.
The agency disbursed €98.5m to multinationals with operations in Ireland and spent €49m on industrial property.
Agency overheads increased €10m year-on-year to €63m, with the staff salary cost excluding employer's PRSI amounting to €27.3m. The average salary for 328 IDA staff through 2021 was €83,200.
