Bre901
30th May 2004, 19:32
Before 7550 or his kind start making comments about professionalism, I'm quite aware that the article is only 50% aviation related as two Irish CEOs resigned (independently) the same day.
The Beeb (http://news.bbc.co.uk/2/hi/business/3760943.stm)
ast Updated: Sunday, 30 May, 2004, 12:27 GMT 13:27 UK
Irish business chiefs quit jobs
Aer Lingus is a flagship of Irish business
Two of the Republic of Ireland's leading business executives have resigned in unrelated developments.
Tom Mulcahy stepped down as head of the state-run airline Aer Lingus following allegations of tax evasion involving the bank where he used to work.
Allied Irish Bank said some current and former executives had been involved in offshore investment schemes.
The chief of the Bank of Ireland also quit after admitting accessing websites with links to "adult material".
'Bank rules breached'
Michael Soden said he had taken the decision to resign for "personal reasons".
The content accessed was not illegal but did contain links to material of an adult nature
Mr Soden, ex-head, Bank of Ireland
"This arises from access by me on my PC to Internet sites that contain content that infringed the group's policy on these matters.
"The content accessed was not illegal but did contain links to material of an adult nature... I now understand and accept that in doing this I breached the policies of the bank."
Mr Soden, 57, joined Bank of Ireland in 2001, having previously worked for the National Australia Bank.
'Adverse publicity'
Mr Mulcahy was chief executive at AIB, Ireland's biggest bank, until 2001.
He denied any wrongdoing, saying he had resigned in order to safeguard the reputation of Aer Lingus.
He said he was "tax compliant" and knew nothing about a British Virgin Island company, Faldor, which is the focus of the AIB scandal.
"I am of the view that this whole issue draws adverse publicity on Aer Lingus as a state company by association," he said.
The case follows hard on the heels of AIB's admission earlier this month that it had mistakenly overcharged customers for foreign exchange transactions.
The Beeb (http://news.bbc.co.uk/2/hi/business/3760943.stm)
ast Updated: Sunday, 30 May, 2004, 12:27 GMT 13:27 UK
Irish business chiefs quit jobs
Aer Lingus is a flagship of Irish business
Two of the Republic of Ireland's leading business executives have resigned in unrelated developments.
Tom Mulcahy stepped down as head of the state-run airline Aer Lingus following allegations of tax evasion involving the bank where he used to work.
Allied Irish Bank said some current and former executives had been involved in offshore investment schemes.
The chief of the Bank of Ireland also quit after admitting accessing websites with links to "adult material".
'Bank rules breached'
Michael Soden said he had taken the decision to resign for "personal reasons".
The content accessed was not illegal but did contain links to material of an adult nature
Mr Soden, ex-head, Bank of Ireland
"This arises from access by me on my PC to Internet sites that contain content that infringed the group's policy on these matters.
"The content accessed was not illegal but did contain links to material of an adult nature... I now understand and accept that in doing this I breached the policies of the bank."
Mr Soden, 57, joined Bank of Ireland in 2001, having previously worked for the National Australia Bank.
'Adverse publicity'
Mr Mulcahy was chief executive at AIB, Ireland's biggest bank, until 2001.
He denied any wrongdoing, saying he had resigned in order to safeguard the reputation of Aer Lingus.
He said he was "tax compliant" and knew nothing about a British Virgin Island company, Faldor, which is the focus of the AIB scandal.
"I am of the view that this whole issue draws adverse publicity on Aer Lingus as a state company by association," he said.
The case follows hard on the heels of AIB's admission earlier this month that it had mistakenly overcharged customers for foreign exchange transactions.