Muldoon is given a retreat in FBD after an independent investigation

  • Muldoon is given a retreat in FBD after an independent investigation
    Independent.t. E.
    Boss FBD Fiona Muldoon will remain as chief Executive officer of the insurer after domestic charges against her have not been confirmed.
    https://www.independent.ie/business/muldoon-is-given-allclear-at-fbd-after-an-independent-investigation-37213677.html
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Boss FBD Fiona Muldoon will remain as chief Executive officer of the insurer after domestic charges against her have not been confirmed.

Ms. Muldoon, who also serves on the Board of Directors of the Bank of Ireland, is one of the most famous entrepreneurs of the country.

In June last year, FBD has confirmed that it launched an independent investigation into the accusations against Ms. Muldoon.

In a statement to the stock exchange, at that time, the company described the investigation as “ongoing” and Miss Muldoon remained in her role as CEO. Yesterday, the company released another statement on the stock market, saying that the charges were not supported.

“In addition to the announcement of 29 June, the Council today FBD company PLC announces the conclusion of an independent internal investigation of allegations made against the chief Executive,” says the company.

“These allegations were not confirmed. The chief Executive, Fiona Muldoon, and her management team will continue to develop the business FBD for the benefit of customers, shareholders and employees with the full confidence and support of the Chairman and the Board.”

The insurance company not to comment on the announcement the stock market.

FBD shares closed up 3pc yesterday only, having reduced more profit from earlier in the day.

In FBD, Ms. Muldoon is credited with turning the fate of the insurer around after he scoured deeply in the red, after the accident, demanding €70m lifeline from the canadian multinational financial services company Fairfax.

This debt may be converted into shares at a price of €8.50 per share, starting in September.

Financial giant Fairfax, founded by billionaire Prem Watsa, is pumped into the box office in 2015, after hanging FBD €96.4 m loss in just six months. Fairfax on the Euro 40m return on investment in the fate of the insurer recovered.

Richie Boucher, former Executive Director of the Bank of Ireland, took an Advisory role with Mr. Watsa at the end of last year and, as of the date of conversion of bonds looming, speculation is installation about the intentions of Fairfax.

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