National Stud

Head of National Stud Tells Agriculture Committee that “in Hindsight Aspects of Expenditure Appear Excessive”


9th June 2010

Spending on foreign travel by the former Chief Executive of the Irish National Stud in hindsight appear excessive, but the company must maintain a profile in the competitive world of stallion promotion, the current boss of the stud, John Osborne told the Oireachtas Agriculture Committee today.

The Committee was meeting to consider accusations that the Irish National Stud failed to follow proper procurement procedures by giving business deals worth €718,000 to firms run by staff of the stud. It is also claimed the INS’ former chief executive incurred up to €800,000 in travel expenses in eight years.

Mr Osborne told the Committee that in future travel schedules for overseas events will be approved at board level.

He also outlined to the Committee that board members have always been encouraged to do business with the stud in order to improve turnover of the company. It was suggested at the Committee that this could mean a conflict of interest.

When asked if there was a connection between the former CEO of the National Stud and the current management of the stallion “Sea the Stars”, Mr Osborne said he was not prepared to answer.

Committee Chairman, Johnny Brady TD said;
“The Irish National Stud has a vital role to play in the Irish equine industry, a sector in which Ireland has a strong international reputation for excellence. However, in order to ensure that this good name is maintained there must be accountability and transparency in the way the Irish National Stud does its business.

Recently, the company has received some negative attention regarding its commercial operation. The meeting today helped the Committee address some of these matters and gave an opportunity to impress upon the stud that it is imperative that they implement the highest standards of good governance.”