Eamon Gilmore (Dún Laoghaire, Labour)
Link to this: Individually | In context

Question 60: To ask the Minister for Transport the action he has taken to address alleged corporate governance irregularities at a company (details supplied); and if he will make a statement on the matter. [17887/10]

Noel Dempsey (Meath West, Fianna Fail)
Link to this: Individually | In context

The company's internal auditors completed a review of corporate governance in 2007. The review made a number of recommendations for improving corporate governance procedures in the company and the Board has confirmed to me that these were implemented.

In September 2008, I appointed a new chairperson and five other directors to the Board of the company. These new appointments have provided renewed leadership and strategic direction to the company.

My Department has also introduced a number of initiatives to improve its own procedures for monitoring corporate governance in the bodies under its aegis.

The new procedures include more detailed reporting requirements and annual formal meetings with the management and boards.