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No DCC comment on Flavin pressure

Jim Flavin - 'Not appropriate' to stay on, says IAIM
Jim Flavin - 'Not appropriate' to stay on, says IAIM

DCC last night said it would not be commenting on a statement from the Irish Association of Investment Managers, which called on DCC executive chairman Jim Flavin to go.

The company, one of the biggest on the Dublin stock market, said there would be no comment until it had considered the IAIM statement.

The association last night said it did not think it was appropriate for Mr Flavin to continue in his role as executive chairman of DCC. The IAIM represents the large institutional shareholders in stock market companies.

The DCC board has continued to back Mr Flavin following a Supreme Court ruling last year.

The Supreme Court found that DCC and Mr Flavin had inside information on Fyffes when it sold its stake in the fruit and vegetable distributor for €106m in early 2000. The court overturned a High Court decision that it did not.