DAA Chairman (Also, EX Director of Anglo) resigns

[Gryire]

Ryanair has called for the chairman of the Dublin Airport Authority Gary McGann to be removed from his position claiming that his position is untenable.

Following the nationalising of Anglo Irish Bank, where Mr McGann was a non-executive director and chairman of the board’s audit sub committee, “Ryanair believes that Mr. McGann is no longer an appropriate person to chair the board of the DAA monopoly . . . ”

In a statement the airline said it “believes Mr. McGann’s position as chairman of the board of the DAA is untenable and if he is not willing to resign from this Government appointed role, then he should be dismissed”.

Resigned tonight.

[gavinsblog]

Some history on Mr McGann here:

gavinsblog.com/2009/02/24/ge … -from-daa/

He will not be leaving his position at Smurfit.

[2Pack]

Another ex Anglo director left the Central Bank Board

The fact that

1. Corporate Enforcement raided the place

2. Ex Director resigns from DAA

3. Ex Director resigns from CB

4. ALL in 24 hours

Indicates that there is evidence the ex Anglo Board deliberately colluded with some of the shenanigans

[The_Unwelcome_Guest]

@RTE

McGann to quit as DAA chairman
Tuesday, 24 February 2009 19:10

Gary McGann, a former director of Anglo Irish Bank, has told the Transport Minister he is to resign as chairman of the Dublin Airport Authority.

Mr McGann, currently chief executive of paper and packaging group Smurfit Kappa, said his decision had been influenced by his previous role at Anglo. But he also said he needed to focus his time and energy on Smurfit Kappa in the current economic downturn.

Mr McGann said he acted ‘with honesty and integrity’ in his time at Anglo. ‘But given recent commentary about events at the bank, my decision today is made in the best interests of the DAA and of Smurfit Kappa,’ he said. Mr McGann quit the Anglo board in January.

Increasing problems filling state boards coming up in the future, remuneration is a pittance generally, especially for the type of articles handed out over the weekend, not much to do with Ryanair in this instance…

[Arthur_Daley]

@The Unwelcome Guest

not much to do with Ryanair in this instance…

No not a thing

[The_Unwelcome_Guest]

@Arthur Daley

@The Unwelcome Guest

not much to do with Ryanair in this instance…

No not a thing

There was two articles over the weekend highlighting ex Anglo people still drawing down money from State Boards… I think if it was a Ryanair press release, he’d have gone a long time ago… Anglo is a shitfest, and even if you were mildly reputable and pulling in well over a couple of hundred thousand from other engagements, the “prestige” of state positions, would not exactly be all that convincing.

I can only imagine…

[Duisigh]

Imagine it’s a scene from Aliens again ]

“What’s that ?”

"It’s the reactor venting, it must have been damaged in the firefight "

“How long before it blows ?”

“Hours”

I’m not sure we can get the 2nd dropship down in time boys…

[2Pack]

Gary was also a member of the Audit Committee of the Board who signed off on the accounts right up to september 2008.

Particularly this beauty in early December 2008 after which all hell broke loose and the whole edifice collapsed within weeks.

angloirishbank.com/Investors … s_2008.pdf

Some matters may have been ’ brought to his attention’ in recent weeks that made him ‘review his position’

[evilal]

@2Pack

Some matters may have been ’ brought to his attention’ in recent weeks that made him ‘review his position’

He was worried his paycheque might bounce.

[tulip]

Does DAA not own one of the largest duty free chains in the world, or am I behind the times? Would his early resignation not preclude him from the trough when the DAA gets split up and a multi-billion retail chain is privatised?