Dáil Éireann Debate, Thursday - 16 December 2010
143 Deputy Mary O’Rourke asked the Minister for Finance the Irish banks that have public interest directors on their boards; in the case of each director when he or she was appointed; the remuneration of each such director; the duties each director was required to carry out in the public interests; the term of office of each such Director; and to whom do the public interests Directors report [47920/10]
Amharc ar fhreagraThe Deputy will be aware that public interest directors though nominated by me have been appointed by the boards of the various covered institutions. Details of individual public interest directors including remuneration are published in the annual reports. The general rule is that directors, including non-executive directors, owe their duties to the company. The interests of the company are paramount. Public Interest Directors bring in addition to other experiences, a civic mindedness and a sense of what is in the public interest and this experience will inform their sense of what is in the covered institutions' interests. To a great extent the public interest and the covered institutions' interests are likely to coincide. A solvent, liquid, low-risk, prudentially run, profitable company which is a going-concern and which has the confidence of its stakeholders is as much in the public interest as it is in the interests of the institutions.
