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DUBLIN (Reuters) - The chief executive of Bank of Ireland Plc, Michael Soden, resigned on Saturday after admitting looking at Internet Web Sites containing "adult material" on his personal computer.
Soden, who took over as group chief executive at Ireland's second biggest bank in March 2002, said he had done nothing illegal, but had breached company policies and apologized for any embarrassment caused.
"I wish to announce that I have tendered my resignation as group chief executive at Bank of Ireland with immediate effect," said Soden in a personal statement released by the company.
"This arises from access by me on my PC to Internet sites that contain content that infringed the group's policies on these matters. The content accessed was not illegal, but did contain links to material of an adult nature."
Soden said he had made it "a central part of my tenure" at the bank to set the highest standards of integrity and behavior.
"I now accept that accessing this material was inappropriate and would cause embarrassment to Bank of Ireland and to the people who work there," the statement added. "I deeply regret any such embarrassment."
In a separate statement the bank said it was beginning the search for Soden's successor immediately, and would make a further comment next week.
Soden, a Dublin native, joined Bank of Ireland from National Australia Bank in Melbourne, where he had been executive general manager of global business and personal finance.
He had previously held a number of senior positions in international banking, including chief executive of Citicorp Investment Bank in Canada, and Security Pacific Hoare Govett in London.
His resignation came on the same day the chairman of state airline Aer Lingus, Tom Mulcahy, resigned after being caught up in a tax scandal at Bank of Ireland's main rival, Allied Irish Banks plc, where he was a former chief executive.
