Angry outbursts over erosion of share value

THE Bank of Ireland board was accused of “elder abuse” as shareholders’ tempers frayed at its annual general meeting, yesterday.

In one of the more colourful outbursts from the floor, elderly shareholder Mary Clarke told the bank’s chairman, Pat Molloy, that the board was “guilty of elder abuse” over its management of the company in the past few years and for it overseeing the erosion of long-term shareholder value.

Ms Clarke added that Bank of Ireland was “beginning to make AIB look clean” and even called for the re-appointment of former chief executive Michael Soden to head up the business — “a decent and honest man, who can turn the company back around before it’s entirely state-owned”, she said.