Bobby Kerr, the founder and chairman of the Insomnia Coffee Company, is to leave the business in the coming weeks, agreeing the sale of his stake to the other shareholders in the business.
A statement from Insomnia confirmed that Kerr is not retiring. Instead, he will now focus on his broadcasting career and his continued weekend-anchor role on Newstalk, where he presents two shows.
In the new year, Kerr will begin filming the second series of his maritime documentary, Along Home Shores, while he is also going to step up his activity in angel investments and non-executive board participation.
Insomnia is Ireland’s leading coffee chain and the 15th largest in Europe. It has enjoyed robust growth in recent years and now has a portfolio of 150 stores across Ireland and the UK. Insomnia celebrates its 20th birthday this year, having started in a Galway bookshop in 1997. Kerr spent many of those 20 years as CEO of the rapidly growing business before changing his role to chairman in 2010.
“Over the many years working together, Harry [O’Kelly] and I have formed a trusted partnership, and Harry’s collaborative leadership style has won the loyalty and respect of our people while driving the team to deliver record results. It is fantastic to see Insomnia move forward with such strength, and to now have a strong presence in the UK market and plans to open in further territories progressing. I will watch its continued growth with interest.”
The news will see changes in the senior management team at Insomnia, where John Clohisey will become chairman while the current CFO, Barry Kehoe, has joined the board of directors. Dara O’Flynn also joined as COO in December.
“We wish Bobby every success with his future endeavours and thank him for his service and hard work in growing the Insomnia brand,” said Insomnia CEO Harry O’Kelly.
