The Board of Science Foundation Ireland (SFI) appointed Professor Mark Ferguson earlier this year following an extensive international recruitment process. Professor Ferguson has an extensive track record over the past three decades in both the academic and commercial spheres. Upon joining SFI, Professor Ferguson, as required of all employees, signed the Code of Business Conduct for Employees which sets out in written form the agreed standards of principle and practice which inform the conduct of staff members of SFI. Incorporated within this Code is an obligation upon the individual to disclose to the Board Secretary any matters that could give rise to a conflict of interest as soon as that conflict becomes apparent. I have no concerns about Professor Ferguson's commercial interests. Professor Ferguson resigned as Non-executive Chairman of Renovo Group plc. and Consultant to Renovo on 15th January 2012 before taking up the Director General position at SFI.