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Annual General Meeting
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Computershare Investor Services (Ireland) Limited
Sandyford Industrial Estate
Phone : +353 (0)1 696 8426
The Board is responsible for the leadership, strategic direction and overall management of the Company. The Company has a highly experienced Board and is currently comprised of seven Directors; three Executive Directors, including the Executive Chairman, three independent Non-Executive Directors and one Non-Executive Director. As Executive Chairman, John Mulcahy is responsible for the effective leadership of the Board. The names and details of each of the Directors are available below.
The Board is committed to maintaining the highest standards of corporate governance and meets formally 6 times during the year, with additional meetings convened as and when required. The Board reserves to itself a formal schedule of matters on which it exercises final decision. Certain other matters are delegated to formally established Board committees. Each year, the Company will provide full details of its compliance with the UK Corporate Governance Code (April 2016) and the Irish Corporate Governance Annex in its Annual Report.
Audit & Risk Committee
Robert Dix (Chairman), Lady Barbara Judge CBE and Richard Cherry
The Audit Committee is comprised entirely of independent Non-Executive Directors and chaired by Robert Dix. The Audit Committee is responsible for monitoring the integrity of the Company’s financial reporting and the effective application of the Company’s internal controls. The Audit Committee meets at least four times per year at appropriate intervals in the Company’s financial reporting and audit cycle. The Board is satisfied that the combined qualification and experience of the individual members provides the Committee with the financial expertise necessary to discharge its responsibilities.
Remuneration and Nomination Committee
Richard Cherry (Chairman), Lady Barbara Judge CBE and Robert Dix
The Board Remuneration Committee is comprised entirely of independent Non-Executive Directors and chaired by Richard Cherry. The Remuneration Committee is responsible for setting and monitoring the level and structure of remuneration for the Executive Directors and senior management. The Remuneration Committee holds a minimum of two meetings per year and utilises the services of external consultants (Mercer) to assist in the discharge of its responsibilities as appropriate.
John Mulcahy, Co-Founder & Executive Chairman
John Mulcahy is a Chartered Surveyor who has over 40 years’ experience in the Irish real estate sector. His current roles include Chairman of Irish Property Unit Trust (IPUT) and being a member of the Boards of TIOICAV and Quinta do Lago S.A., a Portuguese resort developer. Previously, he was a member of the Board (from 2012 to 2014), and Head of Asset Management (from 2011 to 2014) at National Asset Management Agency (NAMA) and prior to that, was Chairman and CEO of Jones Lang LaSalle’s (JLL) operations in Ireland from 2002 to 2010. John was also a founding member of the RICS Asset Valuations Standards Committee and the Property Advisory Committee of the National Pension Reserve Fund.
Justin Bickle, Co-Founder & CEO
Justin Bickle has over 22 years’ senior level experience in the private equity, legal, ﬁnance and property ﬁelds. He was a founding member and Managing Director of Oaktree’s European Private Equity team for twelve years, with approximately $6.9 billion assets under management. He had signiﬁcant Board experience of Oaktree’s operational real estate portfolio companies in the UK and Europe and their activities including residential housebuilding, retirement housebuilding, student accommodation and aparthotels. Justin is also Chairman of TIOICAV and Chairman of English National Ballet. He is formerly a Partner in the Financial Restructuring department at US law ﬁrm Cadwalader, Wickersham & Taft LLP. He is also a UK Solicitor.
Stephen Garvey , Co-Founder & COO
Stephen Garvey has over 20 years’ experience in the construction and property industry in Ireland. His experience includes working with many of the large Irish property developers, including Menolly Homes, Schelester Properties, Glenman Corporation and McCabe Builders. Stephen was the founder of Bridgedale which focused on constructing residential developments in the Greater Dublin Area from 2003. In his role at Bridgedale, he sourced and negotiated the acquisitions of development sites, secured external ﬁnance, formulated and implemented business plans for each project and managed the overall delivery of residential units. Between 2014 and 2017 Bridgedale were responsible for advising and managing Oaktree’s residential projects in Ireland.
Lady Barbara Judge, Independent Non-Executive Director
Lady Barbara Judge, CBE, has over 35 years’ experience in the ﬁnancial, legal and property industries. She is currently Chairman of the UK Institute of Directors, was appointed by the UK Prime Minister as a UK Business Ambassador in 2009 and completed her second term as Chairman of the UK Pension Protection Fund in 2016. She is also the Chairman of Cifas, the UK membership organisation specialising in the prevention of fraud and ﬁnancial crime, and Chairman Emeritus of the UK Atomic Energy Authority. Lady Judge previously served as a Commissioner of the U.S. Securities and Exchange Commission, as a director of Samuel Montagu & Co in Hong Kong and as Founder and Chairman of Private Equity Investor PLC. Lady Judge has signiﬁcant experience in the real estate sector, including her previous positions on the boards of Quintain Estates and Development PLC and Richard Ellis International (now CBRE). Lady Judge is a graduate of the University of Pennsylvania and received a Juris Doctor degree with honours from New York University Law School. She was appointed Commander of the Order of the British Empire in 2010.
Robert Dix, Independent Non-Executive Director
Robert Dix was formerly a partner and head of Transaction Services at KPMG Ireland until his retirement in 2008. He currently operates his own ﬁrm, Sopal Limited, which advises organisations on capital markets, corporate governance and strategic planning issues. Robert is a graduate of Trinity College, Dublin and is a Fellow of Chartered Accountants Ireland. In addition to his role with the Group, Robert is a Non-Executive Director and Chairman of Bank of Ireland Private Bank and Quinn Property Group. He is a Director and Chairman of the audit committee of Allianz PLC and Dalata Hotel Group PLC, and holds Non-Executive Directorships at a number of other companies. Robert is Chairman of the Group’s Audit and Risk Committee.
Richard Cherry, Independent Non-Executive Director
Richard Cherry was formerly a Director and Chief Executive of the Partnerships business at UK housebuilder Countryside, where he worked for over 35 years until his retirement in September 2017. He served on the main Board for 30 years and previously held the roles of Group New Business Director and Deputy Chairman. He has signiﬁcant experience in the real estate sector, including in the execution of partnership projects with public authorities and housing associations. Richard is a graduate of the University of Reading and is a Fellow of the Royal Institute of Chartered Surveyors (RICS). He is Chairman of the Group’s Nomination and Remuneration Committee.
Caleb Kramer, Non-Executive Director
Caleb Kramer is a Managing Director and Portfolio Manager (Europe) at Oaktree Capital Management (UK) LLP. Prior to joining Oaktree in 2000, Caleb co-founded Seneca Capital Partners LLC, a private equity investment ﬁrm. From 1994 to 1996, Caleb was employed by Archon Capital Partners, an investment ﬁrm. Prior to 1994, Caleb was an Associate in mergers and acquisitions at Dillon Read & Co. and an Analyst at Merrill Lynch and Co. Inc. Caleb received a B.A. Degree in Economics from the University of Virginia.