Director rotation in Ireland

Director rotation, aka term limits, is likely to be introduced in Ireland. Ireland would be the first fund jurisdiction to do it.

The Central Bank of Ireland is consulting with the Irish industry on director rotation. On top of which there have been a number of comments made by its senior officials recently on the importance of diversity on boards and, correspondingly, the avoidance of ‘group think’.
 
The CBI is currently in the process of scoping a thematic review in order to assess how firms have implemented the package of measures known as CP86, on Fund Management Company Effectiveness, which came into effect on July 1, 2018. If board rotation is introduced in Ireland it will be as a result this review.

To read more on this story see the July issue of The NED.

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