Clever move by MOL today. All eyes will be on the Govt appointed Directors to see how they vote. The Govt cannot sit on the fence on this one. One things has me scratching my head though. If the Board wasn't informed prior to EI announcing the BFS/SNN moves...then why is the Minister for Transport asking Dermot Mannion and John Sharman (Chairman) to visit business leaders in the West and explain their decision. If the Board weren't consulted...what's the point of the John Sharman tagging along.
On a matter of Good Corporate Governance...I would love to know the answer to this question. Has the Board delegated authority for strategic investment decisions to the Executive Management Team. Strategy defined simply is...Where is the business trying to get to in the long-term (direction). This is something that the Board should be interested in and consulted about. If the Board isn't doing this then it should be sacked. However if the Executive Management Team decided themselves without consulting the Board...well you would have to call into question the Executive Management Team's actions.