Business leaders say Flavin should go

The Irish Association of Investment Managers has signalled that it sees the continuation of Jim Flavin in his role as executive chairman of DCC as inappropriate.

The IAIM represents institutional shareholders in stock market companies.

Meanwhile, the board of ISEQ-heavyweight DCC, has continued to back Mr Flavin following a Supreme Court ruling last year that found Mr Flavin had inside information on Fyffes when it sold its stake in the fruit and vegetable distributor for €106m in early 2000.

The court overturned a High Court decision that he did have or use company reports in trading.

Earlier this week, DCC's board defended its decision to continue backing Mr Flavin, saying the share deals did not involve any intentional wrongdoing.