MarkD..if you don't mind can we keep this discussion to EI matters.
If you take a look at the Aer Lingus website under Investor Relations and then click on Corporate Governance you will read this.
The company is committed to maintaining the highest standards of corporate governance and the directors recognise their accountability to the company's shareholders in this regard. This statement describes how the principles of corporate governance are applied to the company and the company's compliance with the code provisions as set out in Section 1 of the Combined Code.
Do a serach for the Combined Code and you will find this.
A. DIRECTORS
A.1 The Board
Main Principle
Every company should be headed by an effective board, which is
collectively responsible for the success of the company.
Supporting Principles
The board’s role is to provide entrepreneurial leadership of the company
within a framework of prudent and effective controls which enables risk to
be assessed and managed. The board should set the company’s strategic
aims, ensure that the necessary financial and human resources are in
place for the company to meet its objectives and review management
performance. The board should set the company’s values and standards
and ensure that its obligations to its shareholders and others are
understood and met.
My question was purely related to good Corporate Governance and it relates to Board oversight of the business. 3 questions which need answers.
1) Was the Board doing it's what its supposed to be doing.
2) Was the Executive Management Team acting within delegated authority in respect of strategic decisions.
3) If the Board was not informed collectively...who was informed individually?