Exposing the golden circle
A network of 39 individuals held powerful positions in 33 of 40 top public organisations and
Private Irish businesses in three of the critical Celtic Tiger years (2005-2007), and held more
Than 93 directorships between them in these companies during this period; as well as an
Average of ten directorships each in other companies.
Focused on the years 2005-2007, the research shows that each of the 39 members of this
‘Director Network’ held multiple directorships on at least two boards across 33 of the 40
companies concerned.
More than a quarter (eleven) of the 39 members of the Director Network were particularly
well-connected. They had ten or more links, via these multiple directorships, to other
members of this Network and/or sat on three, four or even five boards of the top 40 companies
simultaneously.
In addition to holding multiple directorships, a significant proportion of the Director Network
held very senior full-time positions, either as CEOs or executive directors or equivalent
positions.
Over half of the members of the Director Network held board positions in at least one of
Ireland’s four largest financial institutions: Anglo Irish Bank, AIB, Bank of Ireland and Irish
Life and Permanent. The three most tightly-interwoven of all 40 boards were all financial
Institutions.
Full PFD report a must read! Map of Golden Circle
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