David Cullinane (Waterford, Sinn Fein) | Oireachtas source

I allege no wrongdoing whatsoever and I have no difficulty in encouraging researchers to have a role in setting up companies, such as spin-out companies. The information I have been given is that the president of the institute has a role as a shareholder in many of the companies. Surely there has to be an arms-length distance between president and institute. It was said that there was no difficulty with the head of research being in such a position and I disagree fundamentally with that but the president is entirely different and this needs to be examined. There is an alternative review, although I am not sure that is the best way to deal with it. Does Mr. Ó Foghlú understand the concerns? They have been put to me and I have a duty to put them to him. Issues of governance and best practice are raised when the president of an institute is also a director and shareholder in a spider's web of companies co-located in the institute which benefit from research grants, and where there is not an arms-length relationship between the institute and researchers who are working for the institute. Does Mr. Ó Foghlú have any concerns at all about this?