There is nothing to suggest that the problems at these companies wouldn't have happened if these directors had been less busy, but it raises the question of how much quality time a director can spend working on company business.
"The fact that they were so far in the past doesn't mean we have any less responsibility and we've got to first of all make sure that nothing like that would ever be possible again, and secondly to get to the bottom of what actually happened, " he said.