The multi-utility firm, responsible for developing Ireland's water and gas infrastructure, confirmed he will be leaving the post in May 2017.
The Board of Ervia will now begin the process of seeking a suitable candidate to succeed Mr McNicholas.
Chairman of Ervia Tony Keohane said: "While we respect Michael's decision, we very much regret losing someone of his calibre from our organisation. Michael has played a key role in the establishment of Ervia and has led the company through its complex and demanding evolution from its origins as Bord Gáis Éireann. That journey involved the sale of the Bord Gáis Energy business, the formation of Gas Networks Ireland and the creation of Irish Water. Under Michael's leadership, Ervia has built a high quality team that has continued to develop the State’s gas network and made very significant progress towards the required transformation and rehabilitation of the Ireland's water and wastewater infrastructure. We thank Michael for his enormous contribution to the company and appreciate that he is keen to ensure a planned transition and an orderly handover to a new Group CEO."
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Mr McNicholas said: "The decision to leave Ervia has not been an easy one. While my time at the company has been very challenging it has also been very rewarding. I have had the privilege of working with exceptional people who have given everything they can to make this company successful. Indeed many have gone far beyond what is reasonable to expect, and I and the Board of Ervia owe each of them a debt of gratitude."
(CD/LM)
