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'Internal allegations' not upheld against CEO of Irish insurer FBD

"Internal allegations" against CEO Fiona Muldoon have not been upheld, the board of Irish insurer FBD Holdings PLC said Aug. 13 after an independent investigation.

The investigation was launched in late June after the unspecified allegations were made. Following conclusion of the review, Muldoon and her management team will remain in their positions "with the full confidence and support of the chairman and the board."

FBD provided no further detail of the accusations against Muldoon, although The Sunday Times reported in early July that they related to a complaint about her conduct lodged by the company's chief human resources officer.