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ANNUALREPORT2020A company limited by guaranteeand not having a share capital

OUR VISIONOur vision is to be the leading authorityon, and influencer of, good corporategovernance standards in Ireland fordirectors and boards and a dynamicand relevant membership body fordirectors and senior business leaders,supporting them through the lifecycleof their business lives.

CONTENTSIoD Ireland in Numbers 20202President’s Report3Chief Executive’s Report5IoD Ireland Member Survey Results 202072020 in Pictures8Company Information9Council Meeting Attendance10Directors’ Report and Financial Statements11

THE INSTITUTE OF DIRECTORS IN IRELAND2IOD IRELANDIN NUMBERS2020IoD Ireland Highlights 2020PROFESSIONAL DEVELOPMENTACCESS TO EXCLUSIVE CONTENT AND EXPERTISE38%of membershave undertaken theCharteredDirectorProgrammeNumber of accreditedChartered Directorscontinues to rations27webcasts and videos1 Director Handbook34 Director Factsheets56 blogs and member profiles17 event presentations4 research publications10 exclusive members' offersand discounts175 emails issued tomembers, with averageopen rate of 40%12 monthlyezine newsletters,with an average open rate of 40%IoD Ireland in Profile1 new websitewith enhancedmember features272,699page viewsAll figures are inclusive of 1st January-31st December 20201,829 newfollowers onLinkedIn, with299,623impressions551,800impressionson Twitter26 press releases, with283 individual items ofmedia coverage with anadvertising value 1,265,864.

3Annual Report 2020PRESIDENT’SREPORTHARRY LORTONThe enormous uncertainty and upheaval, whichtook place in 2020, underlined the criticalimportance of companies and organisationshaving strong boards providing both the higheststandards of governance and conformance.We live in extraordinary times. 2020 will be remembered as the year that theCOVID-19 pandemic reached our shores, part of a global crisis that highlighted theinterconnectedness of lives and livelihoods, public health, travel, business, andinternational trade. The ways and means of working were transformed, as we accelerateddeeper into a digital era of technological advancement and innovation.Many business leaders faced some of the most difficult challenges of their professionallives. They have had to be agile and decisive, and show strong leadership, as businessmodels had to evolve and adjust to the new reality. The true value of having businesscontinuity plans in place was brought into sharp relief.Like many organisations in 2020, IoD Ireland had to make significant adjustments to itsoperations, notably with staff working remotely, as well as moving the Chartered DirectorProgramme and our member events (including our two main event series, the IoDMorning and Evening Briefings Series and Lunch Bites @ IoD Ireland) online. Furthermore,we increased both the range and number of exclusive and original content availableto members, focusing on key business and governance analysis and insights. This, inpart, was further boosted by the launch of a new IoD Ireland website in November, withenhanced functionality for members.The enormous uncertainty and upheaval, which took place in 2020, underlined the criticalimportance of companies and organisations having strong boards, providing both thehighest standards of governance and conformance.

THE INSTITUTE OF DIRECTORS IN IRELANDGiven the public health restrictions andadvisories on in-person contact, thehosting of physical board meetings and,critically, AGMs proved challengingduring the year. The IoD highlightedthese concerns to the relevant Ministersin Government, as well as otherstakeholders and spokespersons. Wewere pleased to welcome the passageof the Companies (MiscellaneousProvisions) (Covid-19) Act 2020), on 30thJuly 2020, which dealt with this key issue.This Act also addressed other mattersfacing companies during the pandemic,including some amendments to theinsolvency regime, which we had alsoraised.Of course, COVID-19 was not the onlyhigh-level concern in 2020. Brexitstill loomed large over the year as aconsiderable threat, with the EU and the4UK only finally agreeing a trade deal on24th December. The indecisive outcomeof February’s General Election in Irelandprovoked yet more uncertainty for severalmonths, with a new Government onlyformed in June. Throughout the year,the IoD conducted regular research onthese and other key issues through ourquarterly Director Sentiment Monitorsurveys and occasional snap polls, givingour members’ views a platform to beheard in significant national debates andreports in the media.As a consequence of the impact ofCOVID-19, total IoD income for the yearfell by 7.6% from 2019 but, overall, thiswas an exceptionally strong performancegiven the prevailing circumstances andthe many challenges that we faced.As I conclude my two-year term asIoD President, I would like to expressmy appreciation of the work andcommitment of each of the members ofour Council.In the Chief Executive’s foreword,Maura Quinn will outline the executiveteam’s work and achievements in atime of immense challenge. I would liketo commend and thank Maura, ThoraMackey (our Chief Operating Officer) andall of the IoD Ireland team for their focus,dedication and, indeed, resourcefulnessin delivering to the IoD’s valued memberssuch a high-quality service over the pastyear.Warmest regardsHarry Lorton

5Annual Report 2020CHIEF EXECUTIVE’SREPORTMAURA QUINN94% of members listed the opportunity to hear expertspeakers as the most important aspect of membership.So, when the pandemic struck in early 2020, it wascritical that we maintained this highly valued memberbenefit by migrating our events online.2020 was a seismic year. Business leaders had to quickly adapt to the ever-changinglandscape, as did the IoD. We quickly pivoted all of our activities and services, theChartered Director and events programmes, by moving them online, as well asenhancing the content services and resources we made available to members.MEMBER RESEARCHSeeking our stakeholders’ views remains a key focus. With this in mind, wecommissioned our research agency Behaviour and Attitudes (B&A) to carry out indepth membership sentiment research in early 2020, as we do every two years.The research found that the IoD is rated highly amongst the membership, with sevenout of 10 members citing their experience of IoD membership as excellent/very good;with staff interactions and customer service also being rated as good to excellent, 88%and 87% respectively.EVENTS/WEBINARSIn the aforementioned research, 94% of members listed the opportunity to hear expertspeakers as the most important aspect of membership. So, when the pandemic struckin early 2020, it was critical that we maintained this highly valued member benefit bymigrating our events online.Over the course of 2020, we hosted 28 webinars/events featuring high calibre speakers,which attracted 7,114 registrations. All webinars were recorded and made available toview on the IoD Ireland website. Post event/webinar surveys have been very positive and,importantly, have provided fora for feedback and suggestions from members.Our main event series, the IoD Morning and Evening Briefings Series, was sponsored byMazars, while our Lunch Bites @ the IoD series was sponsored by IQ-EQ. We also held anumber of partnership events, including with the Institute of Advertising Practitioners inIreland (IAPI), Business in the Community (BITC) Ireland and Workair.PROFESSIONAL DEVELOPMENT AND DIRECTOR EDUCATIONAccess to high quality director training remains a driver of membership, with ourmember research finding that seven in 10 members have taken part in some form of IoDIreland training, and 83% rating them as excellent or very good.

THE INSTITUTE OF DIRECTORS IN IRELANDThe Chartered Director Programmeadapted swiftly to the COVID-19 crisisand was moved online or facilitated inperson when Government guidelinesallowed it to do so, with stringentsafety measures in place. 38% ofmembers have now undertaken theChartered Director Programme todate, with nine cohorts booked outin 2020. Furthermore, we now have307 accredited Chartered Directors inthe Republic. The Workshop series iscontinuing in 2021.BOARD SERVICESWe saw strong demand for our BoardEvaluation Service in 2020, whichcontinues to grow. The BoardroomCentre assisted numerous clientcompanies across multiple businesssectors in sourcing non-executivedirectors and chairs for their boards andit continued to advise IoD members onboardroom matters and specific queries.The Centre now has 550 IoD memberson its panel.LEADERSHIP ANDADVOCACYWe greatly expanded our contentand resources, including providingan increased number of DirectorFactsheets, blogs, and webcasts,6as well as launching two new dedicatedgovernance hubs on the new IoD Irelandwebsite. We would like to take thisopportunity to thank all our partners,in particular McCann FitzGerald. Wealso produced four quarterly DirectorSentiment Monitor research reports.PROFILE OF THE IODWe maintained a strong profile acrossboth digital and traditional mediaplatforms in 2020. A significant projectduring 2020 was the launch of ournew website, with enhanced featuresand content for members. Our digitalfootprint continued to grow, with thewebsite garnering 272,699 page views,and our social media channels alsogaining high impression rates, 551,800on Twitter, and 299,623 on LinkedIn.Our followers continued to grow at paceon LinkedIn, with 1,829 new followers.Our high print and broadcast mediapresence included 283 individual itemsof media coverage, with an advertisingvalue of 1,265,864. This applied tonational media, such as RTE’s MorningIreland, Newstalk Breakfast, The IrishTimes, the Irish Independent, the IrishExaminer, the Business Post, andBusiness & Finance, along with a hostof local radio stations and newspapersthroughout the country.THANK YOUFinally, I wish to express my thanks andappreciation to our members for theircontinued support in 2020 and to ourmany partners, sponsors and customers.I would like to express my gratitude tothe IoD President and Council for thesupport offered during the year.Finally, I want to thank and acknowledgeThora Mackey, COO, and the entireIoD team for all that they do and whocontinuously strive to do more and to doit better.Warmest regardsMaura Quinn

7Annual Report 2020IOD IRELAND MEMBERSURVEY RESULTS2020IoD Ireland MemberSurvey Results 2020Value of IoD Ireland membershipNearly7 in 10members rate IoDIrelandas excellent/very goodExcellent/very goodNet Promoter Score:an impressive 20Top 3 rated IoD Ireland BenefitsAccess toInsights &ExpertiseTop 5 rated most important aspects of membership94%87%86%84%84%ExpertSpeakersBelongingto s onProfessionalDevelopmentBuildConnections &NetworkHighly rated IoD CustomerService86%Credible88%Free eventsTraining &ProfessionalDevelopment98%Staff Interactions80%79%Quality of Communication97%Customer Service87%BalancedSurvey of 300 IoD members, completed between 10th-24th February 2020Trustworthy89%

THE INSTITUTE OF DIRECTORS IN IRELAND82020 IN PICTURESJames Hickey, former CEO, Screen Ireland, Thora Mackey, COO,IoD Ireland, and Joanne McEnteggart, Managing Director, Ireland,IQ-EQ, at a Lunch Bites @ the IoD Event in the National Concert HallMarian Finnegan, Managing Director, Residential and Advisory, SherryFitzGerald Group, Frank Greene, Head of Tax, Mazars Ireland andMaura Quinn, Chief Executive, IoD Ireland, pictured at an IoD IrelandMorning Briefing in the Westbury Hotel. Photo: Aidan OliverRecipients at the January 2020 Chartered Director Certificate andDiploma in Company Direction presentation event at the NationalConcert Hall. Photo: Aidan OliverMichael McGrath TD, Minister for Public Expenditure, presenting at anIoD Morning Briefings WebinarMairead McGuinness, former MEP and now EU Commissioner,presenting at a Lunch Bites @ the IoD WebinarThora Mackey, COO, IoD Ireland, opening at the IoD and IAPIpartnership online webinar, ‘Putting brand at the heart of yourfinancial strategy’