IoD launches State Board Governance Handbook

Created by the Institute of Directors (IoD) Ireland, in partnership with Mazars, the new Governance for Directors on State Boards Handbook has been introduced in response to the ever-evolving landscape about State Bodies and their governance and is specifically developed for IoD members who currently sit, or are interested in sitting, on a State Board. 

An expert line-up, to include new RTÉ chair Terence O’Rourke will speak about the realities of sitting on a State Board at an IoD Governance event, being held as part of the IoD Briefing Series: Designed for Directors. The panel of experienced directors will share their insights and views on State Body governance and will also address the Code of Practice for the Governance of State Bodies.

Speaking about the publication, Caroline Spillane CDir, Chief Executive Officer, IoD Ireland, said:

“High standards of corporate governance in State Bodies are critical to ensuring a positive contribution to the State’s overall economic efficiency, competitiveness, social cohesion, and regional development. The Handbook will be extremely useful for our members considering sitting on a State Board. It’s important for us to outline the processes and standards surrounding the governance of state bodies as they are vital for fostering a favourable impact on the overall efficiency, competitiveness, social cohesion, and regional development of the State.”

She continued:

“IoD Ireland is committed to enhancing the proficiency and efficacy of directors and boards across Ireland. This publication focuses mainly, and was prepared based on, the governance requirements applicable to State Bodies as detailed in the provisions of the Code, but it is acknowledged that a wider range of governance codes, companies Acts, legislative provisions, Government circulars and guidance notes should be considered in conjunction with the Code.”

One of the speakers at the members’ event, Terence O’Rourke, Chairman of ESB, RTÉ, and former Chairman of Enterprise Ireland added:

“Sitting on a State Board is a challenging, yet rewarding, endeavour. These positions require the ability to independently oversee and scrutinise the delivery of strategies of an organisation, and offer considered advice based on sound judgement and experience. This Handbook will prove to be highly valuable to those who sit on, or are interested in sitting on, a State Board.”

Fiona Ross, Chair, Córas Iompair Éireann, who is also on the expert speaker panel noted:

“This newly published Handbook, from IoD Ireland, offers direction and insight into the world of State Body Governance, and will be indispensable to all who need it. The information contained within covers all aspects of the subject matter and will help all those who are, or considering, being on the Board of a State Body. From my experience, while the experience is fulfilling and worthwhile, being on a State Board brings with it responsibility to many stakeholders and this publication allows for decisions to be made in an informed manner. In essence, having access to it transforms ambiguity into opportunity, elevating the collective proficiency and stewardship of the Board.”

Speaking about the Handbook and the event, speaker Aidan Williams CDir, Chairman of National Asset Management Agency, and member of the Remuneration Committee, said:

“This informative Handbook will serve as a compass guiding Board members through the complex landscape of corporate governance. It encapsulates essential policies, procedures, and regulatory frameworks, fostering clarity and alignment within the boardroom. Such a Handbook should become a cornerstone for effective decision-making. It not only cultivates a deeper understanding of the company's mission, vision, and strategic direction but also empowers board members to navigate challenges with confidence and integrity.” 

The IoD Ireland event, sponsored by Accenture Ireland, will also feature contributions from Kian Caulwell, Partner, Mazars. The panel session will be moderated by Dr Margaret Cullen, Governance Advisor, IoD Ireland.