Subsidiary governance – the HQ challenge
- There has been a shift towards subsidiary governance because organisations recognise subsidiary governance is a critical element of risk management.
- Subsidiaries have their own boards of directors that consider the regulatory obligations of the countries where they operate.
- The board of a parent company must ensure the boards of their subsidiaries are managed effectively.
- Regulations change from country to country, and subsidiaries need a decent governance framework in place to avoid risks.
- The parent company’s (HQ) board is responsible for ensuring subsidiaries are governed correctly.
- When companies acquire subsidiaries, they should examine risks, the regulatory environment and the governance framework of the subsidiary.
- Good governance will accelerate a merger or acquisition, and the process will run much smoother.
When a business acquires another business through a merger or acquisition, the new subsidiary must receive a proper governance framework. Otherwise, things can go wrong.
This webinar, presented by Ruairí Mulrean and Colm Hanley of LK Shields, examines:
- Subsidiaries and their associated risk
- Governance framework – policies and procedures to put in place
- The requirement for solid internal processes
- The parent board’s involvement in subsidiaries
- Decision making and approval levels
- Domestic v international subsidiaries
- Subsidiary governance and the role of the company secretary
Ruairí Mulrean practises in the areas of corporate law, mergers and acquisitions, corporate restructuring and insolvency.
Ruairí also practices in the areas of company and commercial law, advising both international and domestic clients. In particular, he focuses on corporate law, mergers and acquisitions, corporate restructuring and insolvency. Ruairí advises domestic and international clients in various sectors, including energy, waste, and manufacturing.
Ruairí has a particular interest in taxation, being a member of the Irish Taxation Institute and has advised on various tax-driven group reorganisations and the implementation of other tax-driven structures.
Colm Hanley is a senior company secretary with expertise in company law, corporate governance, company secretarial matters, due diligence and client relationships.
Colm is a qualified chartered secretary and trusts and estate practitioner with full membership of the Governance Institute and the Society of Trust.
Colm brings with him extensive sector experience gained domestically and internationally. He is based in Galway, providing company secretarial, compliance, and corporate governance support services to local businesses in Galway and the western regions.
Before joining LK Shields, Colm managed the overseas office of an Irish-owned trust and corporate service provider for over eight years. He has 16 years of experience in providing company secretarial, company formation and compliance services both domestically and internationally.
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