Oireachtas Joint and Select Committees

Thursday, 3 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Gary McGann:

I think the concept of third party evaluation of a board was somewhat ahead of its time. It's only latterly that many plcs are doing this. So, in that context at least, there was some degree of initiative by the board. As to whether the board was out of touch or not, I mean, this is a ... this is an evaluation done by an experienced third party with a lot of board evaluation experience. It was done quite objectively, as far as I'm concerned, in the sense that I had ... I can only testify as to my engagement with Ms Hague. And the board's evaluation ... if you go further into it, you'll see that there was quite a variety of different answers across a number of different areas, so it wasn't as if it was just tick the box and move on.

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