State Body governance experts address directors at IoD Ireland event

(The expert line-up at the recent IoD Ireland event. Pictured L to R: Kian Caulwell, Partner, Mazars, Caroline Spillane CDir, Chief Executive Officer, IoD Ireland, Terence O’Rourke, Chairman of ESB and RTÉ, and former Chairman of Enterprise Ireland, Dr Margaret Cullen, Governance Advisor, IoD Ireland, Aidan Williams, Chairman of National Asset Management Agency, and Member of the Remuneration Committee, Fiona Ross, Chair, Córas Iompair Éireann, Michelle Cullen, Managing Director, Accenture).

The event was opened by Caroline Spillane CDir, Chief Executive Officer, IoD Ireland. Caroline reflected on the importance of high standards of corporate governance in State Bodies. She noted these would be critical to ensuring a positive contribution to the State’s overall economic efficiency, competitiveness, social cohesion, and regional development. To support members on this key area, Caroline shared a number of new IoD Ireland supports and resources aimed at supporting members and directors who are on, or who are planning on joining, a State Board.  These new resources include a new IoD Ireland Director Handbook on the Code of Practice for the Governance of State Bodies, an upcoming workshop on State Body Governance, and knowledge sharing events such as this evening’s. This activity is key component of IoD Ireland’s vision to make Ireland an exemplar of corporate governance.  The new Handbook was created in partnership with Mazars. In her address, Caroline thanked Corné Mouton and Kian Caulwell of Mazars for ther support and colloboration on the Handbook. Caroline also acknowledged and thanked our sponsor Accenture for their continued support of the IoD Briefing Series: Designed for Directors.

(Pictured: Caroline Spillane CDir welcoming members to the event).

Key elements of the new Handbook were addressed by Kian Caulwell, Partner, Mazars. In his address Kian reflected on the purpose of the governance for directors on State Boards and how it links with the Code of Practice for the Governance of State Bodies. He also addressed the latest updates and enhancements to the Code. These included gender balance and inclusion; climate action; global internal audit standards; and protected disclosures. 

(Pictured: Kian Caulwell, Partner, Mazars, addressing members at the event).

The expert panel then delved into sharing their own experiences and insights on being a member of a State Body, as well as reflecting on differences between that and being a member of a PLC board. The expert speaker line-up included: Terence O’Rourke, Chairman of ESB and RTÉ, and former Chairman of Enterprise Ireland, Fiona Ross, Chair, Córas Iompair Éireann, Aidan Williams CDir, Chairman of National Asset Management Agency (NAMA) and Member of the Remuneration Committee. The session was moderated by Dr Margaret Cullen, Governance Advisor, IoD Ireland. 

(Pictured: L to R: Dr Margaret Cullen, Governance Advisor, IoD Ireland, Aidan Williams, Chairman of National Asset Management Agency, and Member of the Remuneration Committee, Fiona Ross, Chair, Córas Iompair Éireann, Terence O’Rourke, Chairman of ESB and RTÉ, and former Chairman of Enterprise Ireland).

The key themes discussed touched on IoD Ireland research work on this topic. These included: the recruitment process for state boards, with members of the panel providing advice and insight on how best to apply; the importance of stakeholder engagement with the Minister and Secretary General of the parent department, and other key stakeholders; executive and director renumeration; the time commitment involved on being a State Board, and the reasons for it; strategy and budget; and also the purpose and value of being on a State Board.

(Pictured: Terence O'Rourke, Chairman of ESB and RTÉ, and former Chairman of Enterprise Ireland).

To further support members on this key area, IoD Ireland will also be hosting a dedicated workshop on the Governance of State Bodies on 29th May 2024. Participants will upskill on the duties and responsibilities of being a member of a State Body. This dedicated workshop will include exploring the Code of Practice for the Governance of State Bodies (the Code), and the core tenets of best practice for State Body governance and their application. It will be led by Dr Margaret Cullen, Governance Advisor, IoD Ireland.  

IoD Ireland is committed to future research, taking the evolving nature of business, board structures and governance into account, to further extrapolate key learnings to enhance State Body Governance. Underpinning all of IoD Ireland’s work is their CPD Framework for Directors, c-suite and senior executives, and boards. As part of this research work, IoD Ireland have also noted they will be looking to develop recommendations as appropriate for State Boards, policy makers and the Government.

(Photographs courtesy of  Damien Eagers @ Coalesce)