Board recruitment:In 2005 the society advertised for new non-executive directors. I was a member of the nominations committee.

Ten candidates were shortlisted through an external recruitment process. All 10 were vetoed without any reference to me. I objected in the strongest possible terms. Last December I was removed from the nominations committee.

• In relation to the assessment of potential board candidates, we are determined to find the very best calibre individuals to serve the society as board members. Ethna had ample opportunity to put forward her views before any decisions were finally made. The membership of board sub-committees is reviewed on an annual basis. Ethna was consulted by me in December 2006 and agreed to leave the nominations committee and join the board credit approval committee. In a similar way, most other non-executive directors changed their involvement in board subcommittees at the same time.

EXECUTIVE PAY

In 2006 the board fractured over corporate governance. Three members, including me, became unhappy about aspects of senior executive remuneration and the payment of a multimillion euro sum into the senior managers' pension fund without reference to the board.

• The board, as you would expect, engages in serious debate on all matters, including remuneration and the area of pensions. Ethna refers to an issue in 2004 which was fully disclosed in EBS accounts and the board has approved subsequent payments to pension funds to meet its obligations as a responsible employer.

RABOBANK

Ethna Tinney says:

In the years 2003 and 2004 the board was intent on pursuing a deal with a foreign bank. This deal was characterised by the executive as a bold transformational play. I saw it as selling the family silver without giving the money to the family [ the members]. I opposed the deal from first to last. Ultimately the deal collapsed, but not before millions of euro of your money had been spent pursuing it.

Mark Moran says:

Three years ago EBS had a potential opportunity to enter a joint venture with the Dutch bank Rabobank. Ultimately, the board unanimously decided to discontinue these discussions and not to recommend any deal to members, who would have had the final decision on the matter in any event. This matter was dealt with at the time both in our annual report and at the annual meeting.