IE-Annual-Report-&-Review-2024

Financial Statements in some disruption in the global domain name market, and will also represent a challenge for data protection managers, trademark and patent holders, brand managers and the owners of intellectual property rights. In technical terms, the company’s infrastructure and portfolio of services is up-to-date, matching the top ccTLD’s in the EU. Heretofore, the company has taken a national leadership role by introducing registry lock, secure DNS, secondary market, IDN’s, rule relaxations for geographic and place names, and the liberalisation of rules for new .ie domains. Principal Risks and Uncertainties As an operator of essential services (OES) providing critical DNS and registry services, the company faces risks and uncertainties relating to critical infrastructure disruption, critical supplier failure, geopolitical turbulence, and threats to the competitiveness of SMEs in the domestic economy. The company is maturing its enterprise risk management framework and policy, retaining its low-risk appetite as preparations continue for transposition of new EU Directives. The company is exposed to risk and uncertainty arising from market fluctuations in its financial investments. A combination of appropriate investment principles, advice from independent investment advisors and oversight by a Board subcommittee manages these risks. The company’s financial investments are managed by a discretionary investment fund manager and are invested for the long-term in a moderate risk portfolio diversified across multiple investment asset classes and geographies. The impact of new regulations remains uncertain, as the EU continues its EU Digital Decade initiatives to address cyber security threats, complete the Digital Single Market and implement ePrivacy initiatives. These risks continue to be managed prudently by the company. In common with internet service providers, the company faces risks in relation to digital disruption and innovations from global internet giants, which offer platforms, new apps and free services financed by advertising revenues. The company faces risks with regard to the ever-increasing range and sophistication of cyber-attacks on internet infrastructure and businesses. The company also faces risks in relation to reliance on key computer systems and key staff. The company faces risks associated with its development of new services which may not become commercially sustainable. The company’s risk mitigations include cyber security controls, active threat monitoring, business continuity plans and disaster recovery procedures which address the risks associated with cyber threats, technical abuse using the DNS and reliance on key computer systems. The multi-stakeholder Policy Advisory Committee (PAC) continues to assist by providing advice and recommendations to the board on a range of policy responses for the .ie namespace. Staff training, cross-skilling and key process documentation mitigate the potential exposure arising from the loss of key staff members. Directors In accordance with the Articles of Association, directors may serve a maximum of two Terms, whereby an initial term is a four-year period and a subsequent term is for a three-year period. At the AGM in 2024, Mr Eamonn Ceannt and Mr Owen O’Connor retired as directors in accordance with the Articles of Association. At the AGM in 2025, Mr Dan Flinter and Ms Anne-Marie Eklund Löwinder are due to retire, while the terms of Ms Louise English and Mr Brian Gareth Dunlop were extended by twelve months to ensure no more than two directors retired in the same year, in accordance with the Articles of Association. On 1 May 2024, Mr Bob Semple and Mr Tim Murphy were appointed as Directors, on 1 July 2024, Mr John Brosnan was appointed as a Director, and on 22 April 2025, Ms. Mairéad Cullen was appointed as a Director – all in accordance with the Articles of Association. Ms Jennifer Chamberlaine and Mr Jonathan Bate continued as directors in 2024. Directors and their Interests In accordance with the Articles of Association, the directors have no financial interest in the Members’ Funds of the company. The company is limited by guarantee and does not have a share capital. Every member of the company undertakes to contribute to the assets of the company in the event of it being wound up. Members are liable for payment of debts and liabilities of the company contracted before ceasing to be a member, and for the costs, charges and expenses of winding up, such amount as may be required not exceeding €1.27 cash. Directors’ Report (continued) IE Domain Registry CLG t/a .IE / Annual Report & Review 2024 34