Thursday, May 31, 2012

Finalcioal management

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McInerney Holdings PLC is divided into four operating groups throughout Ireland, England and Spain. In the UK McInerney Group Ltd is sub divided into William Hargreaves Ltd and Charlton Group (UK) Ltd. In Ireland There is McInerney Construction Ltd and Hillview Securities Ltd. The holding company is the main core and is responsible for financial control, allocating resources, monitoring returns on capital investment and measuring financial risk. It is the responsibility of the operation divisions to keep in close conatact with the holding company and report back regularly.

McInerney Holdings PLC consists of seven directors, four of which are non-executive directors and three of which are executive. The board meets at regular intervals throughout the year. It is essential that the directors are in attendance to ensure a high performance. The non-executive directors are Roy B.Ferris, Patrick F Shorthall, S William Riordan and Michael J. Leece. The executive directors are Barry O’Connor, Dan Mc Inerney and Joe McNamara.

Senior Executives

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The table illustrates the Senior Executives. The roles of the managing director and the chairman differ quite distinctively. The Chairman acts as the senior independent director. The selection of new or replacement directors is made by the board as a whole, therefore it is not necessary for McInerney Holdings to have a nomination committee. Barry O ‘Connor joined the group in 188 and was appointed Managing Director in 14.

The board also functions through a series of committees; the asset committee, the remuneration committee and the audit committee. The asset committee is responsible for the approvement of projects such as land purchasing and investments. The remuneration committee deals with remuneration policy and employee share options. Finnally the audit committee duty is with the regulation and planning of the audit and the internal control standards of the company.

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