State appointees may face conflict of interest

The public interest directors to be appointed by the government to the boards of banks benefiting from the €440 billion state guarantee face a potential conflict of interest, a corporate governance expert has warned.

15th November, 2008

The public interest directors to be appointed by the government to the boards of banks benefiting from the €440 billion state guarantee face a potential conflict of interest, a corporate governance expert has warned.

Alan McDonnell, managing director of Empeira Strategy and Governance Advisors, said directors’ common law duties required them to ‘‘exercise their powers in what they honestly believe to be the interests of the company rather than in the interests of a particular...

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