Corporate Governance

Coillte Directors support good corporate governance.  During 2009 the Board was made up of a non-executive Chairman and seven non-executive directors and one executive Director.  All Directors are appointed to the Board by the Minister for Agriculture, Fisheries and Food  and their terms of office are set out in writing.  Details of Director’s fees and emoluments are disclosed in accordance with Irish law and practice.

In addition to the Board of Coillte, the following groups are also in place to support the management of the group:

  • Audit Committee of the Board
  • Corporate Governance Committee of the Board
  • Internal Audit
  • External Audit
  • Group Executive Team

The board meets formally on a monthly basis and reviews a schedule of matters specifically reserved to it for decision.  In addition, an Audit Committee oversees financial issues in the Coillte Group and meets both the external and internal auditors on a regular basis during the year.  All audit findings of significance are reported to the Board.  The Group’s annual budget and rolling five-year plan are reviewed and approved by the Board.  The Board receives monthly management accounts.  The presentation of the monthly management accounts is also supported by detailed presentations made by the Chief Executive and Senior Management to the Board on a monthly basis.  Recommendations can be made to the Coillte Board of Directors via the Company Secretary’s Office for inclusion in monthly board meeting.

Staff can submit recommendations to the Coillte Board via the Worker Director who is a member of the board, representing staff interests.

The Coillte Group has a comprehensive group code of business conduct to which all employees are required to adhere.  Coillte has had no actions taken in relation to corruption or other financial irregularities.

Since its inception, one legal action has been taken against the company for anti-competitive behaviour but this case was ultimately withdrawn.   There have been no sanctions for non-compliance with laws or regulations.

Where appropriate, Coillte makes a contribution to development of forestry policies and other appropriate areas of interest to the Group such as renewable energy, green procurement and carbon sequestration.  

Coillte Panel Products Takes ‘Excellence in Marketing Award for 2nd Time

Coillte is acutely aware of its global responsibilities and of the importance of using certified products.  In fact, Coillte Panel Products - one of Coillte’s three divisions - took the Excellence In Marketing award at the 2009 UK timber industry awards event held by the Timber Trades Journal for their promotional campaign "TIME2CHOOSE". 

The "TIME2CHOOSE"” campaign targets every part of the timber distribution and construction industry, including end users, buyers and senior managers, inviting these decision makers to be uncompromising in their choice of locally produced, forest certified wood products and, in particular, SmartPly OSB and Medite MDF, over unsustainable alternatives. The TIME2CHOOSE campaign ensures that specifies are aware that Coillte Panel Products match the environmental and performance expectations of today’s marketplace and encourages decision-makers in the trade to be uncompromising in their choice of wood products.