Independent director of the EBS Building Society, Eithne Tinney, has narrowly failed in her bid to remain on the board of the society.
More than nine thousand votes were cast in her favour at today's annual general meeting, while over ten thousand members voted against her re-election to the board.
The board said Ms Tinney had not performed to a sufficiently high standard as a director but she argued that directors were paid too much and shouldn't have put €5m into a senior management pension scheme.
Around 1,200 EBS members gathered at the Burlington hotel in Dublin today to hear the board explain why independent director Eithne Tinney should not be re-elected.
Earlier Ms Tinney had addressed the meeting, and said she was proud to put herself forward for re-election without the support of the board.
Ms Tinney has clashed with ESB chairman Mark Moran on a number of points raised in the meeting about events that took place last year, and also during a period when the EBS was investigating a possible deal with Rabobank.
There was also been strong criticism of the board by members attending the meeting today.
