ICOS reminds directors of their responsibilities
Speaking at the ICOS annual conference in the Convention Centre, Dublin, Mr Keane said the national co-op umbrella group highlighted the work of The Plunkett Institute for Co-operative Governance, which is dedicated to the establishment and best practice of co-operative governance in Ireland.
The institute’s main focus is on the elected members of boards of ICOS co-operatives, and board officers.
“ICOS is committed to working with co-ops to develop and deliver programmes aimed at strong governance, and member engagement,” said Mr Keane.
“We are currently either running, or preparing to run, six training and development programmes for various co-ops, providing training across a range of business disciplines, to allow directors or aspiring directors to more fully understand and develop their competencies in their roles.”
The group reminded co-op directors of their responsibilities on behalf of the 150,000 members and 130 co-ops which ICOS represents.
These co-ops and associated businesses have a combined turnover of €14bn, employing 12,000 people in Ireland, and a further 24,000 people overseas.
“Irish co-operatives are large and complex operations, with revenues in the hundreds of millions and, in many cases, billions of euros,” said Mr Keane.
“The role of a director in any company is difficult and complex. In a co-operative it is even more complex, given the ownership and democratic control structure as well as a shared economic goal to promote the collective long-term benefit of members.”
Mr Keane said farmer directors can not be expected to be experts across the regulatory framework on the day they are elected or assume the role, but added that they must rapidly learn these new skills.
“They do become responsible, so we need to ensure they are familiar with and can discharge those responsibilities,” said Mr Keane.
“This is vital to enable their co-ops to compete effectively with public and private firms who populate their boards with professional independent directors.”
The line-up of speakers at the conference included Agriculture Minister Michael Creed; Canadian ambassador Kevin Vickers; US Department of Agriculture rural sociologist Tom Gray; ICOS corporate enforcement director Ian Drennan; and Conor Gouldson, company secretary of FBD Holdings.
