Oireachtas Joint and Select Committees
Wednesday, 19 December 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB
3:20 pm
Mr. Ray MacSharry:
The Deputy would clearly want to ask the other directors about that. There have been many occasions, however, when we would do our utmost to reflect the public interest. There is no doubt that other directors, generally speaking, would do the same. As Ms Hayes has said, there are occasions where we put our point very strongly. We cannot dictate and we have to end up having a consensus view in relation to any policy matter. Generally speaking, non-executive company directors are there to formulate policy, have it implemented and control it as it is being implemented. That is our role. It does not differ from other non-executive directors on the board.