Dáil Éireann Debate, Wednesday - 23 June 2010
51 Deputy Emmet Stagg asked the Minister for Transport the action he has taken to address the allegations of serious lapses in proper corporate governance procedures at the Shannon Foynes Port Company; if he has been briefed on further allegations of the alleged payment of €400,000 to a former SFPC executive between 2001 and 2006; and if he will make a statement on the matter. [26847/10]
Amharc ar fhreagraI have outlined the action that has been taken in relation to corporate governance in Shannon Foynes Port Company on a number of occasions. The company carried out its own review of corporate governance in 2007 and has confirmed to me that all recommendations have been fully implemented. In September 2008, I also appointed a new chairperson and five other directors to the board of the company. State companies are required to show leadership by displaying best practice in corporate governance. My Department has introduced a number of initiatives to improve its own procedures for monitoring corporate governance in the bodies under its aegis. I understand the payment referred to in the Deputy's question was related to a legal action.
