DCC’s corporate governance ‘good and effective’

by Simon Carswell, for The Irish Times,  January 20, 2010.

The High Court inspector who investigated allegations of insider trading by former DCC chief executive Jim Flavin found that the company had “good and effective corporate governance”.

Bill Shipsey SC said in his report that, contrary to the “understandable apprehension” of the Director of Corporate Enforcement Paul Appleby at the time of his appointment as inspector in 2008, his concerns were “largely unfounded”.

“The good news from the perspective of the director, and corporate compliance in Ireland, is that the court, the public and the market can be assured and take comfort from the fact that one of Ireland’s largest listed public companies had a well-developed culture of compliance, maintained high corporate standards and was a good corporate citizen, notwithstanding the costly error of appreciation by its then chief executive,” wrote Mr Shipsey…(continue reading)

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