Institute of Directors in Ireland says company boards can be strengthened by appropriate selection and through relevant training
Date: 02 March 2010Response to report by Grant Thornton on corporate governance in Irish
listed companies
In response to the 2010 Corporate Governance Review published today by Grant Thornton, the Institute of Directors in Ireland has said that Irish listed companies can strengthen their boards by selecting directors on the basis of relevant skills and experience.
Commenting, Maura Quinn, Chief Executive of the Institute of Directors in Ireland, said: “Irish listed companies can strengthen their boards by ensuring that a transparent recruitment, selection and appointment process is in place and that director appointments are made on the basis of skill, suitability and experience. We need to ensure that the best and most appropriately qualified and expert people are appointed to the boards of Irish listed companies.
“Emphasis must be placed on the training of board members in their specific roles as directors. Board members assume a key role in corporate governance and compliance with the combined code. They set the company’s values and standards and ensure that its obligations to shareholders and to the wider community are met. By appointing directors who are appropriately qualified and trained for their role, Irish listed companies can build and strengthen their boardrooms.”
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