New Bord na Móna chief paid €308,000 in his first year

Semi-State company, which is moving away from peat, lost €50m in its last financial year

Bord na Móna: winding down its peat operations. Photograph: Cyril Byrne

Bord na Móna: winding down its peat operations. Photograph: Cyril Byrne

 

Bord na Móna paid chief executive Tom Donnellan €308,000 in his first year in charge of the semi-State company.

The business, originally established to exploit the Republic’s peat bogs, said this week that it lost €50 million in its last financial year, which ended on March 27th, after spending €91.4 million on revamping the organisation.

Bord na Móna’s annual report shows it paid Mr Donnellan €308,000 in its last financial year, including a basic salary of €216,000 and €54,000 in pension contributions.

Mr Donnellan succeeded Mike Quinn at the helm of the company on April 18th last year, meaning he served in the job for most of the year covered by the annual report.

Commenting on the report, published on Wednesday, Mr Donnellan said it had been a challenging year for the company and indicated that efforts to transform Bord na Móna would continue.

The company is moving into waste management, electricity generation and other areas as it prepares to wind down its peat harvesting and processing operations.