Board and Committees of the Board 2006
BOARD 2006
The Board operates to best practice corporate governance principles and in line with the guidelines set out in the 'Code of Practice for the Governance of State Bodies' as issued by the Department of Finance, both in its own activities and in its use of committees.
It is responsible for setting the broad policies of the organisation and for overseeing its operations. It performs these functions directly and through the operation of focused Board Committees. Responsibility for the implementation of policy rests with executive management.
The Board has statutory authority to approve grant aid up to the levels set out in the Industrial Development Acts and to recommend on grant aid above these specified levels to Government.
In accordance with the Ethics in Public Office Act, 1995 and 2001, IDA Ireland Board Members furnish a Statement of Interest to the Standards in Public Office Commission and to the Secretary.
In accordance with the 'Code of Practice for the Governance of State Bodies' IDA fully complies with Government policy on the pay of Chief Executives and State Body employees and with Government guidelines on the payment of fees to Board Members.
John Dunne
Chairman, IDA Ireland
Board Member, The Financial Regulator
Board Member, Central Bank &
Financial Services Authority of Ireland
Loretta Brennan Glucksman
Chairman, American Ireland Fund
Bernard Collins
Chairman, VHI Healthcare
Director of a number of medical devicecompanies
Former VP of International Operations and
Director of International Board, Boston Scientific Corp.
Kieran Corrigan
Managing Partner, Kieran Corrigan & Co., Chartered Accountants
Managing Director, Merlin Films Int. Ltd
Sean Dorgan
Chief Executive, IDA Ireland
Board Member, Forfás
Chairperson of the Governing Body of the
Dublin Institute of Technology (DIT)
Bríd Horan
General Manager, Pensions, ESB
Commissioner, National Pensions Reserve
Fund
Thomas Lynch
Chairman, Amarin Corporation plc
Director, ICON plc
Paul Mackay
Chartered Accountant and Insolvency Practitioner
Gerard O'Mahoney
Partner, Deloitte & Touche
Nial Ring
Director, Fairlee Properties Ltd
Brian Whitney
Assistant Secretary, Department of Enterprise, Trade and Employment
Martin Burbridge
Secretary
Gary Kennedy retired at the end of 2005, in line with the normal process of rotational retirement.
COMMITTEES OF THE BOARD 2006
Audit & Finance Committee:
Assists and supports the Board in discharging its legal and accounting responsibilities; communicates with external auditors and evaluates and controls the internal audit function; reviews financial planning and monitors budgeting and banking arrangements.
Members:
Kieran Corrigan (Chair), Loretta Brennan Glucksman, John Dunne, Gerard O'Mahoney, Brian Whitney
Management Development & Remuneration Committee:
Responsible for reviewing performance of the management team and planning for management development and succession. The Committee also reviews remuneration of senior management in the context of government guidelines.
Members:
John Dunne (Chair), Bernard Collins, Sean Dorgan, Bríd Horan, Thomas Lynch, Paul Mackay
Investment Committee:
Reviews proposals for grant assistance on a delegated basis from the Board to approve grants up to a maximum of €1.5 million.
Members:
Nial Ring (Chair), Kieran Corrigan, Sean Dorgan, Brian Whitney
Property Committee:
Reviews policy with regard to the financing, provision, maintenance and disposal of property, approves procedures with regard to tendering and awarding of contracts and approves expenditure/sales of up to €5 million.
Members:
Bríd Horan (Chair), Bernard Collins, Sean Dorgan, Thomas Lynch, Paul Mackay