DJ Dave Fanning believes that Paul McGuinness is "the living template" of how to master the music industry.
McGuinness (64) confirmed yesterday that he is to leave his role after more than 30 years, as part of a deal which will see Live Nation buy the management teams of U2 and Madonna.
Radio DJ Fanning is a close friend of the band, after establishing a relationship with U2 when they performed on his very first live session on 2FM in 1979.
"Paul was never the guy in the studio, overseeing things like a producer; he went out and did the business of making U2 as big as they are," Fanning said.
"He went to London and used it as a stepping-stone to get them to America and further.
"All of the bands I talk to see Paul as the template, the real man who did it all and made it. He did an incredible job with U2.
"It's a big change for the band, but they've been working with Live Nation for years and that arrangement has worked out very, very well," the RTE anchor said. Madonna's manager Guy Oseary is expected to take over day-to-day management of U2.
Fanning told this newspaper that McGuinness "obviously has huge faith" in his soon-to-be successor, who will take on his position as manager of U2 as they prepare to release their first album in nearly five years.
"The band takes care of themselves anyway and know what they want to do or how they want to do it."