The chairmen of some of Ireland's biggest listed companies are likely to face increasing scrutiny of their position after an overhaul of corporate governance rules. A refreshed UK Corporate Governance Code has a new provision that says chairmen shouldn't stay in the role beyond nine years from their appointment to the company board. The UK code has for many years been the standard that the Irish Stock Exchange asks Irish-listed firms to abide by. CRH, Kingspan and Irish Continental Group (ICG) state in their most recent annual reports that they abide by the principles of the previous UK Corporate Governance code. Under the new code, companies are required to provide "clear and meaningful explanations" to shareholders if they deviate from the code's principles.

Source: Irish Independent February 21, 2019 02:26 UTC