Irish Residential Properties REIT Plc appointed senior independent director and deputy chairman Declan Moylan as chairman of the board, effective March 31.

Moylan succeeds Colm Ó Nualláin, who is stepping down as chairman and director.

Aidan O'Hogan will succeed Moylan as senior independent director, also effective March 31.

The company said in a release that its board plans to appoint a new independent nonexecutive director following Ó Nualláin's retirement, adding that its nomination committee has begun a selection process.

Meanwhile, the director appointments of Moylan, O'Hogan and Thomas Schwartz have been extended for an additional term of approximately three years, commencing April 1.