Re-turn has gone to great lengths to keep the pay of its top executives and board members a mystery in recent years.
This week, it claimed compensation figures in its own annual report were not quite accurate.
The body, led by Ciarán Foley, was set up in 2022 by drinks producers to manage Ireland’s Deposit Return Scheme. Its 12-person board is populated by private sector executives from Coca-Cola HBC Ireland, Tesco, Britvic, Heineken, Musgrave and Diageo.
In recent annual reports it has provided some insight into the compensation of Foley and the board, but has stopped short of giving a definitive number for Foley’s pay package or individual board fees.
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The company, a non-profit, said this is within existing accounting standards, but it puts Re-turn out of step with many of the State’s prominent charities, non-profits and semi-State bodies that do disclose their chief executive’s salary.
Re-turn’s annual report for 2024 indicated that five key management personnel, including Foley, were paid a combined €1.1 million. That same year it suggested the company’s 11 board members and Foley were paid a combined €600,000.
The recently published annual report for 2025 indicates that key management personnel compensation rose to €1.4 million last year. The rise was linked to board member fees now being included in this total for key management personnel.
Total remuneration paid to the board and Foley rose from €600,000 to €700,000, which would indicate a 16 per cent increase.
The Irish Times asked Re-turn on Tuesday whether the increase was linked to a pay rise for Foley.
A spokesman said: “Total remuneration for the board of directors increased from €600,000 in 2024 to €700,000 in 2025. The published accounts do not provide a basis for attributing this increase to the CEO, and Re-turn does not comment publicly on individual employee remuneration.”
On Wednesday, The Irish Times asked why pay to these individuals rose 16 per cent. The company declined to comment.
A further opportunity to clarify the matter was provided on Thursday. At this point, a spokesman for Re-turn said these figures “are presented as rounded figures to the nearest €100,000” and the accounts cannot be relied upon to provide a definitive compensation package for Foley or the board.
You couldn’t make it up.
Re-turn claimed the pay increase was 3.4 per cent, but refused to provide definitive remuneration figures to the nearest euro to back up that assertion.
The mystery over Foley’s pay continues.
