In April 2008, the board of Cork Airport Authority agreed by one vote to accept responsibility for a debt of €113 million incurred by the Dublin Airport Authority in the redevelopment of Cork Airport to secure independence from Dublin Airport. This was despite government commitments that the Cork Airport Authority would be established on a debt-free basis. The Cork Airport Authority Board also stated that their strong reservations about the level of debt that Cork Airport was being levied with and the potential impact on its future sustainability. In late April 2008, Cork Airport Authority chairman, Joe Gantly, announced his resignation effective from the end of July 2008. Gerry Walsh replaced Gantly as chairman.