Bord na Móna chief to waive bonus
The chief executive of Bord na Móna has informed the semi-State company that he intends to waive any performance related pay for the year 2010/11.
Gabriel D’Arcy said Bord na Móna had a strong year and would announce increased earnings for the fifth consecutive year on July 18th when its full year results are due to be published. However, he said he had decided not to accept a bonus in the context of “the real challenges faced by the country and the economy”.
“It is vitally important that there is a clear and singular focus on driving performance in the commercial semi-state companies and there is an urgent need for the Government to agree a clear unambiguous system of remuneration that drives performance,” Mr D’Arcy said.
“We look forward to engaging with Government on how we can jointly develop a system that delivers enhanced performance across the semi-State sector.”
His decision comes just days after Minister for Transport Leo Varadkar and Dublin Airport Authority clashed over a €106,000 deferred bonus paid to its chief executive Declan Collier. The bonus was accounted for despite a Government ban on bonuses for semi-State bosses.
Mr Varadkar had threatened not to reappoint the board of the State company when its term expires later this year for defying guidelines on pay for senior public servants.
On Sunday, Mr Collier informed the Minister that “in light of prevailing national economic circumstances he will forgo performance-related pay in respect of 2010 approved by the company”.
The Dublin Airport Authority and Bord Gáis yesterday confirmed they each paid around €2 million in bonuses to staff last year.
Several other companies, including all CIE companies, said they have paid no bonuses in several years while others including Eirgrid, the Irish Aviation Authority and Bord na Móna refused to state if they have paid bonuses.