IoD Members' Update
September 2021
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Dear Member
With the phased lifting of many of the remaining COVID-19 public health restrictions, the third and fourth quarters of 2021 will be significant.
Even before An Taoiseach’s address to the nation on 31st August, the recent resurgence of optimism was already evident amongst our members who responded to our Director Sentiment Monitor (DSM) survey for Q2 2021 (see link to report in panel below). The Government’s roadmap is a further boost for the economy and for wider society, so it is very much to be welcomed. Of course, any roadmap is subject to changing circumstances, but the Government’s announcement brings both clarity and certainty in the short term. Beyond that, it is to be hoped that the public health situation continues to improve.
We have an exciting programme of IoD events and webinars lined up over the coming months, with our Briefings series, sponsored by Accenture, and our Lunch Bites @ the IoD series, sponsored by IQ-EQ. Our very popular ‘Business Connections’, the IoD’s online Networking platform, will be hosted on 8th September and is a great opportunity for members to meet and engage with one another in virtual chatrooms. See below for more information on how to book.
We also have the phased physical return of some of our Director Training programmes, including our Chartered Director Programme, in the Irish Management Institute (IMI); our IoD Essentials Workshop Series, which includes nine workshops; and our new course, 'Leading Sustainability: What Directors Needs to Know and Do'. Today, in fact, we are holding our first in-class workshop back in the IMI with John Smyth on 'Understanding the Role and Responsibilities of the Board, Its Chair and Directors' and our second in-class workshop will be this Thursday with Caroline Kirrane exploring 'Finance for Company Directors'. The remainder of our workshops will take place online, and bookings for these are also now open. See below for more information on how to book.
One of the more notable governance trends to arise during the pandemic has been the growing importance of Environmental, Social and Corporate Governance (ESG) issues, with 72% of our member respondents to our DSM Q2 2021 survey indicating that ESG has now become part of their board’s agenda. Furthermore, 29% of respondents said ESG will be the most desired experience/expertise over the next two years. In anticipation of the increased demand from directors and business leaders for further knowledge and insights on ESG for their boards, IoD Ireland is delighted to present its new online course titled, ‘Leading Sustainability: What Directors Need to Know and Do’. Places for this course are booking up fast. The course will be conducted over four in-depth sessions during October and November (see panel below for further information).
A lot to look forward to, then, as we journey our way back to the new normal.
On a final note, I would greatly appreciate your participation by responding to our exclusive Director Sentiment Monitor for Q3 2021. These are seismic and challenging times and knowing our members' views on a host of issues and topics (such as board recruitment and composition, and diversity) is important. See link below. We value your participation.
Thank you.
Maura Quinn
Chief Executive
Institute of Directors (IoD) in Ireland
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Director Factsheet: Senior Executive Accountability Regime Update |
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McCann FitzGerald Factsheet
September 2021
Our latest Director Factsheet, from McCann FitzGerald, takes a timely look at the General Scheme of the Central Bank (Individual Accountability Framework) Bill.
On 27th July 2021, the Minister for Finance, Paschal Donohoe TD, received Cabinet approval to publish the General Scheme of the Central Bank (Individual Accountability Framework) Bill. When enacted, this Bill will create an Individual Accountability Framework, empowering the Central Bank of Ireland to hold those in management roles at regulated firms accountable for wrongdoing that occurs under their supervision.
Our sincere thanks to McCann FitzGerald for their ongoing assistance in producing the IoD Factsheets.
Please note: To read this members’ only content, you must be logged into the members' area of our website. For more Director Factsheets, please visit our website.
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Tell Us Your Views: IoD Director Sentiment Monitor Q3 2021 |
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The quarterly IoD Ireland Director Sentiment Monitor tracks our members’ sentiments across a range of parameters and issues. The latest research covering the period Q3 2021 is currently underway and all members are invited to complete the survey. It takes approximately five minutes to complete.
We value and appreciate your participation.
The survey addresses a number of key areas/issues. These include:
- Board recruitment and composition
- Board diversity
- Return to offices/workplaces
- Budget 2022 in October
- International tax reform
- Business confidence
- Financial performance.
If you have already completed the Director Sentiment Monitor survey, thank you. If you would like to complete the survey, please click on the button below.
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IoD Online Course | Leading Sustainability: What Directors Need to Know and Do |
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This course will include four sessions half-day sessions designed to equip directors with the knowledge and skills to strengthen their organisations’ orientation towards sustainability. It will provide a practical approach to this critically important issue, with a focus on immediate takeaways, and it will include an opportunity to apply learnings to the participant’s own organisation.
Dates and Session Topics:
The four sessions in this online course will take place on four different dates from 5th October 2021 – 25th November 2021 between 09:00-12:30. See the dates and session topics below:
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Tuesday, 5th October 2021: Session One - Why Sustainability is Increasingly Important for Boards
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Monday, 18th October 2021: Session Two - The Environment Agenda: The Board’s Role
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Monday, 8th November 2021: Session Three - The Social Agenda: The Board’s Role
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Thursday, 25th November 2021: Session Four - The Bottom-Line Agenda: Director/Board Actions.
Booking Details:
The course fees: €1,500 plus VAT for IoD members and €1,950 plus VAT for non-members. Please note places are limited.
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Business Connections: IoD Online Networking Event |
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We are delighted to announce the next in our series of online networking events facilitated by Jean Evans, Founder, NetworkMe, titled 'Business Connections’.
In this session, Jean will provide a short introduction with tips and strategies to ensure successful online networking. There will also be three opportunities for participants to be randomly placed by Zoom into chatrooms, where you will be able to virtually meet with a small number of your fellow members.
Date: Wednesday, 8th September 2021.
Time: 12:30 - 14:00.
Online Event: This event will take place online via Zoom. Please see the details below on how to access this.
Cost: Free of charge. IoD members only.
Registration: Please note, numbers are limited and attendance is on a first come, first served basis.
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IoD Essentials Workshop Series: Chairing Boards and Committees |
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This online workshop on 'Chairing Boards and Committees' will be led by Marie Collins, Chartered Director (CDir). The chair has a critical influence on a boards or committee’s performance and culture.
Whether you are newly appointed or looking to improve your performance with a fresh perspective, this practical workshop will equip you with the essential knowledge and skillset to fulfil your role with confidence and success. This workshop is part of the IoD Essentials Workshop Series.
When: Tuesday, 12th October 2021
Time: 09.30-12.30
Workshop Costs: IoD members - €225 ex VAT; Non-members - €275 ex VAT.
Format: Online via zoom
By attending this course, you will gain the knowledge and skills to:
- Understand the role and responsibilities of the chair in successfully leading and chairing a board or committee.
- Develop a high performing board.
- Understand board dynamics and tone from the top.
- Chair an effective board meeting.
CPD: IoD workshops may be eligible for CPD, including Chartered Director CPD. Please check with your relevant professional body.
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IoD Essentials Workshop Series: The Changing Role of the Company Secretary |
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This online workshop on ‘The Changing Role of the Company Secretary’ will be led by John Smyth, Chartered Director (CDir). This half day virtual workshop will provide a detailed and practical review of the fundamental elements of a company, its board and governance structure and the role of the company secretary from both the legislative and best practice perspective. The workshop will take place online and is part of the IoD Essentials Workshop Series.
When: Thursday, 14th October 2021
Time: 09.30-12.30
Workshop Costs: IoD members - €225 ex VAT; Non-members - €275 ex VAT
Format: Online via zoom
Participants on the workshop will gain a good understanding of:
- The structure, composition and legal responsibilities of the board.
- The role of the company secretary on the board.
- The role of board committees.
- Effective board meetings
- Requirements of general (shareholder) meetings.
CPD: IoD workshops may be eligible for CPD, including Chartered Director CPD. Please check with your relevant professional body.
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IoD Webcast Recording: Technology and the Board |
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This webinar addressed a number of key topics, including; the pace of modern technology; changes in the workplace; and governance implications for boards.
This webinar is part of our IoD Briefings Series and sponsored by Accenture. The slides presented during the session are also available at the below link.
Please note: To view this members' only content, you must be logged into the members' area of our website.
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Deirdre O’Reilly is an Independent Non-Executive Director who acts as a Chairperson, an Audit Committee Chair and a member of Risk Committees for several entities in the financial services sector. Deirdre is an approved Independent Director of both the Central Bank of Ireland (CBI) and the Financial Conduct Authority (FCA).
With over 20 years’ experience in the financial services sector as an auditor in PwC, she is also Fellow of the Institute of Chartered Accountants in Ireland (FCA); a Licentiate of the Compliance Officers in Ireland (LCOI); a qualified financial advisor (QFA), and a Certified Investment Fund Director (CIFD).
What do you particularly value from your IoD membership?
The IoD provides an independent facility comprising technical resources and the continuing opportunity to connect with its expanding network of members and member organisations. A director needs to be expert in a wide range of areas from strategy to risk management and Corporate Governance Codes. Remaining current and relevant is increasingly challenging despite the ever-expanding volume of information we are offered. The IoD helps me to keep my edge by focusing on the right areas and connecting with experts.
What is the most important lesson, from your personal or business life, that has guided you the most in being a business leader?
The most important lesson that I have taken from both my personal and business life has been the fundamental importance of personal relationships. You can learn so much from your mentors; peers; colleagues and friends. Ultimately, it is people that drive communities and business which underpins success.
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Latest Qualified Chartered Directors Announced |
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The IoD Chartered Director Programme is the only Programme in the Republic of Ireland that provides the full designation and recognition as a professional Chartered Company Director (CDir).
The Chartered Director Programme is a unique qualification for directors and strategic business leaders combining learning and professional experience. This sought-after programme has been running in Ireland since September 2008 and is delivered exclusively by IoD Ireland.
IoD Ireland offers its congratulations to all of our newly qualified CDirs.
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The IoD Blog | The Travel Industry: Light at the End of the Tunnel |
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In the early days of the COVID-10, Siobhan Byrne Learat, Founder and CEO, Adams & Butler, wrote an exclusive blog for IoD members on the impact the pandemic was having on her travel business.
Now, as we transition to some semblance of 'normality' with the easing of public health measures, Siobhan writes an insightful update for IoD members on what the past 18 months have been like for her and her team, for the travel sector, and how the shoots of optimism are growing once again.
'Contrived experiences, though perfect and idyllic, are a thing of the past, ' she writes. 'They don’t reflect the new values in a new post-COVID world. We found that sustainability and responsible travel is being mentioned more by clients asking us to do stuff that is unique and not the usual - taking footfall away from over-visited parks and reserves to lesser-known gems, enabling smaller local communities and businesses to survive and thrive.'
Previous blogs are available on our website. If you are interested in contributing to our blog or for further information, please contact Paul O'Mahony at [email protected] or call +353 1 411 0010.
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Webcast Recording | Branding: Vital for Ireland's Economic Recovery |
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The event featured a line-up of high calibre speakers, including: Fiona Dawson, former Global President, Mars Inc.; Gordon Lawlor, Managing Director, Circle K Ireland; Shenda Loughnane, Group Managing Director, dentsu; and JP Scally, Chief Executive Officer, Lidl Ireland. The session include a welcome address from Thora Mackey, COO, IoD Ireland, and was moderated by Charley Stoney, CEO, IAPI. The speakers discussed how Brand Building is helping the financial well-being of their company as they look to the future.
Please note: To view this members' only content, you must be logged into the members' area of our website.
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Policy and Announcements Hub |
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COVID-19: Reframing the Challenge, Continuing our Recovery & Reconnecting
The Government has announced its plan for the next phase of Ireland's response to the COVID-19 pandemic, COVID-19: Reframing the Challenge, Continuing Our Recovery & Reconnecting. It says, 'This phase will see the majority of restrictions lifted and replaced by guidance and advice to enable us to work together to protect ourselves and to live our lives to the fullest extent possible... The Government has agreed that during the interim period between 1st September and 22nd October, we will continue our careful and gradual approach to re-opening, while supporting maximum reach of the vaccine programme and allowing time to achieve the full benefits for all those currently being vaccinated.'
Business Resumption Support Scheme (BRSS) open for registration
The Minister for Finance, Paschal Donohoe, T.D., has announced that the Business Resumption Support Scheme (BRSS) is now open for registration on the Revenue Online Service (ROS). The BRSS is a new support scheme for businesses with reduced turnover as a result of public health restrictions. Businesses will be required to have tax clearance and payment will be conditional on the business actively trading on 1 September with an intention to continue to trade.
Remote Working Checklist for Employers
The Government has prepared a checklist to provide employers with a quick way to navigate the adoption of remote working arrangements.
ODCE to transition into Corporate Enforcement Authority
The Director of Corporate Enforcement has welcomed the Government's approval of the Companies (Corporate Enforcement Authority) Bill 2021. This Bill paves the way for the establishment of the Corporate Enforcement Authority.
Should Ireland have an Export Credit Agency?
The Department of Enterprise, Trade and Employment has commissioned a report into the provision of export credit and export finance to Irish exporters, with specific consideration of whether there is a case for Ireland to set up a state sponsored Export Credit Agency.
“Ireland is one of the only significant countries in the world that does not have a state sponsored Export Credit Agency,” according to Michael Holley, Melyn Consulting. “The global corporation tax environment is changing. Brexit is reinforcing the need for Irish companies to find new markets. Meanwhile, Chinese exports continue on their never-ending growth path, bolstered by support from the Chinese state Export Credit Agency. According to the OECD report, ‘SME and Entrepreneurship Policy in Ireland’ (2019), the average Danish SME is four times as likely to be exporting compared to the average Irish SME.”
If you would like to find out more or to participate in this research, please contact Michael Holley of Melyn Consulting, who is conducting the review on behalf of the Government.
Enterprise Ireland launches the Export Compass Series
Enterprise Ireland in association with the Local Enterprise Offices, today launched its second Export Compass Series. The series aims to help companies explore ways to overcome the present economic challenges, by understanding overseas business cultures, building digital capabilities for selling, and developing customer, distributor and partner relationships. The webinar workshops will take place between Tuesday, 7th September and Tuesday, 5th October.
Government launches Housing for All - a New Housing Plan for Ireland
Housing for All is the government’s plan to increase the supply of housing to an average of 33,000 per year over the next decade. The plan provides for an optimal mix of social, affordable and private housing for sale and rent. The plan also includes measures to support availability of the land, workforce, funding and capacity to enable both the public and private sectors to meet the targets.
Public Consultation: OECD International Tax Proposals
The Minister for Finance, Paschal Donohoe, has launched a public consultation on the OECD international tax proposals and is inviting relevant submissions by 10th September 2021. If responding, please indicate whether you are contributing to the consultation process as a professional tax adviser, representative body, business representative, in an individual capacity or as non-governmental organisation.
IDA Ireland Annual Report & Accounts 2020
Launching its Annual Report & Accounts 2020, IDA Ireland reported 'significant investment growth in the first half of 2021, returning FDI employment creation plans to near 2019 record levels, despite continued business uncertainty caused by the pandemic.' |
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IoD Ireland Webcasts: Catch Up Today |
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As part of our ongoing commitment to share exclusive content with our members, we continue to offer recorded webcasts of our online webinars.
Our wide range of webcasts include presentations from leading figures and thought leaders, such as: Paschal Donohoe TD, Minister for Finance and Eurogroup President; Derville Rowland, Director General, Financial Conduct, Central Bank of Ireland; Tony Gaffney, Corporate Director (NED), and Founder, Lambay Group; Charlotte Valeur, Founder, Global Governance Group; Martin Shanahan, CEO, IDA Ireland; and Mark Little, CEO, Kinzen.
Our IoD Briefings Series in 2021 is sponsored by Accenture, and our Lunch Bites @ the IoD Series 2021 is sponsored by IQ-EQ.
Please note: To view this members’ only content, you must be logged into the members' area of our website. For more webcasts, please visit our website.
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Research Results: IoD Director Sentiment Monitor Q2 2021
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The IoD Ireland Director Sentiment Monitor (DSM) tracks our members’ sentiments across a range of issues on a quarterly basis.
The latest research covering the period Q2 2021 has just been published, which you may have read or heard about on media outlets such as RTE's Morning Ireland, Newstalk Breakfast, The Irish Times, Business Post, the Irish Examiner, RTE.ie, ThinkBusiness.ie, and more.
Our second Director Sentiment Monitor survey of 2021 finds that 61% of our members who responded to the survey are 'more optimistic' with regard to the Irish economy compared to 30% in Q1 2021, a 31% increase quarter-on-quarter.
The research has found that 72% of respondents indicate that Environmental, Social and Corporate Governance (ESG) issues have now become part of their board’s agenda.
Our DSM Q2 research also finds interesting movement in relation to desired board members’ expertise and experience. Interestingly, ESG came in second to strategy when our research asked IoD members what they believe will be the most desired experience/expertise needed by their primary organisation’s board over the next two years.
The respondents' views on future models of working, the return to the office/workplace, confidence in the economy, the effect of the Government's performance on consumer confidence and business decision-making, and more, are also revealed.
Thank you to all who were able to take the time to complete the survey.
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On the Bright Side…
Positive News in Business
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While there may be many negative business stories in the news recently, there are also plenty of positive ones. Here are just a few stories we have selected:
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IoD and Members in the News |
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RTE Morning Ireland: Business leaders feeling more optimistic about economy (Maura Quinn interviewed) (audio no longer available)
Newstalk Breakfast: Resurgence of optimism among business leaders (Maura Quinn interviewed) (audio no longer available)
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The IoD's Boardroom Centre |
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The IoD’s Boardroom Centre is the leading independent source of non-executive directors and chairpersons in Ireland.
The Boardroom Centre provides two services: working with companies to recruit non-executives to their boards, and supporting IoD members on their non-executive journey.
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For Companies: The Boardroom Centre is a dedicated and independent service which assists client companies to source and appoint independent non-executive directors and chairpersons to their boards. Our panel of available candidates comprises some of the most experienced senior business leaders in Ireland, all of whom are members of the Institute of Directors in Ireland. We work with a company from developing the criteria for their ideal candidate through to the appointment process and remuneration guidelines.
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For Directors: The Boardroom Centre provides advice to IoD members on preparing themselves for the role of non-executive director. Members can also apply to join the Boardroom Centre’s confidential panel of available non-executive directors.
If you would like to know more about what the Boardroom Centre can do for you and/or your organisation, please visit our website or contact Thora Mackey directly.
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IoD Member Benefit: Complimentary Access to Airport Lounges
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IoD Ireland members can avail of complimentary access to airport lounges in Dublin, Cork, and Shannon, as well as 16 executive airport lounges in the UK and Europe.
Benefit Availability
This benefit is open to all IoD members.
How to Avail of the Member Benefit
The next time you are travelling for business or pleasure why not avail of this member benefit to ensure a relaxing travelling experience. To access the lounge, please note the following:
- Present your valid IoD Ireland membership card to the attendant at the Executive Lounge. Please note: the lounge will also accept a digital version of your membership card, which can be found on your member dashboard on the IoD website. Contact the membership team if you have any queries in regards to this.
- The attendant will check the name on your membership card against your boarding pass.
- The IoD Ireland membership card must not be out-of-date.
- The name on the IoD Ireland membership card must match that of the boarding pass.
- The maximum-allowed length of stay is three hours per visit.
- Members' guests are welcome to attend but must pay the general admission.
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UNICEF's "Get a Vaccine - Give a Vaccine" Campaign |
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CAMPAIGN UPDATE: €2.5m Raised
UNICEF has announced that people and companies in Ireland have so far donated over one million COVID-19 vaccines to people in some of the world’s poorest countries, with €2.5m raised to date.
UNICEF Ireland Executive Director Peter Power said UNICEF has been inspired by the response from individuals and companies across Ireland. “We have been simply blown away by the incredible gratitude and solidarity for others that people in Ireland have shown. We have never witnessed anything like it before."
In recent months, UNICEF has been working with the HSE and the Department of Foreign Affairs in connection with Ireland's support for the global vaccination campaign.
UNICEF is asking IoD members to consider supporting the campaign by engaging with this act of solidarity, either in their own right and/or by involving staff in their organisations.
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Get the Most Out of Your Membership
with the IoD Ireland Website
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Have you reset your password and accessed the new members' area on the IoD Ireland website? If so, you will have already gained access to our exclusive member only content, such as webcasts, Director Factsheets, blogs and much more.
If you have not yet created your new login details, please follow the below steps to get the most out of your IoD Ireland membership:
Step one: browse to this IoD Ireland website page and on the left hand side of the screen in the 'Returning Members' section please press the 'Password Reset' button. Please then enter your email address to reset your password.
Step two: you will receive a ‘Password Set Request’ email. Please click on the link in this email to create your password and login to access the exclusive members’ area of the IoD Ireland website. (If you do not receive this email, please check your spam/junk email.)
If you have any queries or issues regarding the above, please contact the IoD Comms team.
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Follow our company page on LinkedIn for the latest updates. |
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Follow our latest updates at @IoDIreland and #IoDevents.
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