Mr. Michael Walsh:

In 2005 we did get agreement from Mr. Brophy to actually join the board and we were very happy to do that. He had very good experience with the Smurfit group, a very good individual and ideal. And when we got agreement from Mr. Brophy, I expected the board size would actually increase to six. And we agreed with the regulator that Mr. Brophy would be co-opted to the board following the 2006 annual general meeting. Unfortunately, there was a problem in the sense that in the ... I think it was February of 2006, Dr. Power, because of a conflict of interest between his role as chairman of the audit committee and vice-chairman of the society, and his chairmanship of the financial ombudsman's council, had to step down due to that potential conflict.

I was very disappointed to lose Dr. Power at the time because he'd actually been a very good non-executive director, a very good chairman of the audit committee, but, nonetheless, when I tried to persuade him to stay, he felt that, you know, as chairman of the financial ombudsman's council, he had a first duty to that role.