Pat Rabbitte (Dublin South West, Labour)
Link to this: Individually | In context

Question 58: To ask the Tánaiste and Minister for Enterprise, Trade and Employment her views on the recently published Grant Thornton corporate governance review; and if she will make a statement on the matter. [13341/09]

John McGuinness (Carlow-Kilkenny, Fianna Fail)
Link to this: Individually | In context

I note the contribution which the Grant Thornton ISEQ Corporate Governance Review has made to the ongoing debate on corporate governance. However, it is important to recognize that the ISEQ Combined Code on Corporate Governance, which is considered in the Review, is of most direct relevance only to those companies which are listed PLCs. This category of company represents, numerically, an extremely small proportion of the overall total, with some 40 PLCs listed and traded on the main index out of a total of just over 184,000 companies registered in the State as at 31 December 2008. It is very important, therefore, to view any comments made by the Review in this context. Overall, the Review highlights the need for shareholders to be prudent in the placing of their investments and vigilant in monitoring the performance of chairpersons, directors and CEOs in delivering value for them and in holding them to account.